Alternative documentation
Definition
Expedited and simpler documentation requirements designed to speed up the loan approval process. Instead of verifying employment with the applicant's employer and bank deposits with the applicant's bank, the lender will accept paycheck stubs, W-2s, and the borrower's original bank statements. Alternative documentation remains “full documentation”, as opposed to the other documentation options
Related Terms Other terms related to 'Alternative documentation' starting with the letter 'A' Annual Percentage Rate, Appraisal, Assumable mortgage, Assumption, Affordability Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 