Illegals - yes those are fraud.
No Income Verification? Originally not, but became so as people abused them.
Originally, they were for self-employed people, or those who made a lot of tip money and didn’t claim it on taxes - there was no other way they could every qualify.
Then, guidelines loosened, and people abused them to buy houses they honestly couldn’t afford.
I’m self employed. And looking to buy in a year or so.
I’m thinking I’m screwed for a while.