• Mortgages made without income verification are back, but Rancho Financial is requiring bank statements instead to demonstrate borrowers have resources.
• What came to be known as "liar loans" got deserved blame as one factor in the housing market's collapse, but Rancho says its program is different and limits mortgage loans to $1.5 million.
• "If someone has several hundred thousand in assets, chances are they do have the money. We’re trying to target smart people who have financial advisers, who have certified public accountants," says Craig Brock, a mortgage banker at Rancho.

From the article: Preparing for the return of the jumbo lending market and the days when Fannie Mae and Freddie Mac are no longer mortgage finance behemoths, Rancho Financial is wading back into offering stated-income mortgages.