Definition - What does A Paper mean?
A Paper is a term that is particularly associated with the mortgage industry within United States. A paper is used to describe mortgage loan where the borrower is having a credit score of either 68- or above.
Justipedia explains A Paper
This type of mortgage loan requires the borrower to completely document his or her assets and income, debt to income ratio of the borrower should not exceed 35%, and at least 20% of the equity should be injected by the borrower.