mortgage industry: The difference between Alt-A and subprime? Understand where they go after closing - 03/14/07 12:18 PM
Mortgage Backed Securities PRIMER - to understand where the different 100% financing programs go... A Mortgage Backed Security (MBS) is essentially a group of loans (often called a pool) that have similar characteristics. 500 Fixed-Rate, FHA loans would be pooled together and issued into a MBS but you wouldn't see a couple of JUMBO loans … (8 comments)
mortgage industry: 100% financing is alive and well, just not for sub-prime lenders - 03/13/07 10:43 PM
On Friday, Countrywide announced their maximum loan to value for sub-prime is 90%. This morning Option One announced the same limits. Also last week, New Century halted all loan operations and they were the 3rd largest sub-prime lender nationally. So what to do with your less than stellar credit clients? FHA loans … (31 comments)
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Mortgage Backed Securities PRIMER - to understand where the different 100% financing programs go...
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