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Started By
Message
Subprime mortgages surface again
Posted on 10/12/18 at 7:22 pm
Posted on 10/12/18 at 7:22 pm
LINK
quote:
Thousands line up for zero-down-payment, subprime mortgages
Diana Olick | @DianaOlick
Published 6 Hours Ago Updated 1 Hour AgoCNBC.com
Borrowers can have low credit scores, but have to go through an education session about the program and submit all necessary documents, from income statements to phone bills.
They must go through counseling to understand their monthly budget and ensure they can afford the mortgage payment.
The loans are 15- or 30-year fixed with interest rates below market, about 4.5 percent.
quote:
The event is one of several being held in cities across America this year, run by the nonprofit, Boston-based brokerage Neighborhood Assistance Corporation of America, or NACA.
quote:
So far more than 10,000 potential borrowers have shown up at various NACA events in cities like Charlotte, North Carolina, and Atlanta, according to Marks, and more are planned. NACA receives a $3,000 commission on each loan.
7
Posted on 10/12/18 at 7:25 pm to LSUDVM1999
They’ve been back for a while.
Look up bespoke tranche opportunities. It’ll piss you off.
Look up bespoke tranche opportunities. It’ll piss you off.
Posted on 10/12/18 at 7:25 pm to LSUDVM1999
Time to scrape up about 10 grand and rewatch The Big Short
Posted on 10/12/18 at 7:29 pm to LSUDVM1999
What could possibly go wrong?
Posted on 10/12/18 at 7:35 pm to LSUDVM1999
quote:
Borrowers can have low credit scores, but have to go through an education session about the program and submit all necessary documents, from income statements to phone bills.
They must go through counseling to understand their monthly budget and ensure they can afford the mortgage payment.
The loans are 15- or 30-year fixed with interest rates below market, about 4.5 percent.
Who is subsidizing these low interest loans?
Posted on 10/12/18 at 7:47 pm to LSUDVM1999
How is a 4.5 rate a subprime loan 
Love how they use that name as a scare tactic
Love how they use that name as a scare tactic
Posted on 10/12/18 at 7:59 pm to LSUDVM1999
Old news. You don’t get rich off of something that’s very transparent
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