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Who would have thought the majority of suprime loans were to upper income non-minorities!

Could it be that the assumptions made about supprime lenders taking advantage of minorities are untrue? According to a new study by Compliance Tech, over 70% of the subprime loans originated in 2006 went to non-hispanics and nearly 40% went to upper income borrowers.

The study also found that the majority of subprime borrowers were to single head of household families.

See the complete article here.

www.GregZaccagni.com & www.MortgageAdvisor.info

Posted by Illinois Mortgage Lender Greg Zaccagni on 07/24/2008 09:26 PM

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