I am pretty sure that with “no doc’s” they are going to have to have reserves and a low ltv to go with an institutional lender. Might work for a refi with a ton of equity but a purchase is going to be tough. There may be an exception. I saw a possibility a few months ago that Wachovia was bringing out a 90/10 stated income verified assets. Didn’t follow it.

You will need to have relationships with a few good and very knowledgeable mortgage brokers for your clients that don’t have a handle on that. You need to be able to find the broker working the programs that your clients can obtain, if any, so don’t rely on just one person. HLS might be a good start for you as he is in your area.

Maybe there is a good down payment assistance program there? This can get someone 100% financing with nothing but a small percentage of seasoned reserves. The down payment assistance can make it as though your client is qualifying for a much smaller loan.