These no doc loans will probably make a comeback that caters to individuals who do not work traditional jobs where they are stuck for 10-20 years going through the same routines. If you are a freelancer and know how to tax-shelter lots of money, then these types of loans are great to help you on the road of home ownership.
http://www.businessinsider.com/mortgage-bankers-bring-back-the-no-doc-loan-2009-7
A different take on no documentation mortgage loans. A mortgage product that encourages fraud by all parties?
http://market-ticker.org/archives/1199-Mass-Mortgage-Fraud-Is-Coming-Back.html
