'STATED' is to make document collection easier -
not a way to make more commission off unqualified loan. In your example, do you have a wholesaler who would accept fully documented income from a relative border? If you do, then show bank statements and go full doc.
EVERY SINGLE PERSON EMPLOYED IN THIS INDUSTRY -
who reads regularly industry publications KNOWS 'STATED' is abused excessively by LO's. There's countless stories and stats to back that up; everybody "I" speak with knows it too.
On only the rare occasion do you (or anyone) come upon an applicant who truely needs to be taken, STATED, instead LO's, Brokers and AE's use 'STATED'
so they can make a big commission 