I think I have seen this movie before, about 10 years ago maybe?
There’s always going to be some type of loan for people to buy a house. They’re too expensive for most people to plunk down cash.
You’re one of the few with keen recall.
It’s going to be an even more spectacular crash this time ‘round making 2008 mortgage lending standards seem conservative by comparison;n)
Breathless statement from article sez it all:
“as well as a growing set of mortgages outside the Qualified Mortgage box, including loans up to $10 million and *loans to borrowers without permanent residency.*
The company’s “NanQ” lending program offers stated income, verified asset loans for high net worth borrowers; loans for self-employed borrowers; *loans for borrowers with a recent credit event like a foreclosure; loans to borrowers with higher than traditional debt-to-income ratios; and more.*
And now, the company wants to expand its non-QM programs across the country.”