Loansharking, and providing a real estate mortgage, at a decent interest rate, to someone creditworthy, but who can’t prove income, are as different as Peg Bundy and Julia Child.
You do realize that “no doc” interest rates are usually no more than 1.5 points higher than standard, right? You do realize that they still have to have a valid social security number and valid ID, right?? Well, 99% of them do, but that’s a different story.
If that was all there was to the mortgage mess, it wouldn't be a mess.