I   want to  mention  that 'credit, income and asset verification' are
 "not" the  factors  considered for  'hard  equity  loan' so  as  to 
obtain  mortgage loan  for  real  estate  so  therefore  I  want to 
know  that  "why"  those  factors are  not  considered  for  hard 
equity  loan ??

A hard equity loan is backed by something that is typically worth more
than the total loan value.
If the borrower defaults on the loan then the loaner (the bank) gains
ownership of the object that backs the loan.

Example:  You buy a house with a hard equity loan with the house as
the collateral....  The value of the house is more than the value of
the loan.  If you default on the loan then the bank will obtain the
house.

Since the house is worth atleast as much to the bank as your loan is,
they don't mind if you default.  Therefore they don't care if you have
income or assets or even decent credit history.

**Hard Equity lenders will typically only loan up to 65% of the value
of the house to ensure they make money if/when you default.