blemished borrowers

Definition

These borrowers possess one or more of the following risky characteristics: they can make little or no down payment, their property consists of something different than a home for a single family, they are unable to report the entirety of their assets or income, their credit scores are lower than they should be, they have low income compared to their total expected expenses, and their adjustable mortgage rate is such that could result in considerably higher payments in the future.
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