This will work itself out. Performance on mortgages in Alt-A securities combined with their already higher yields will draw investors back but make no mistake, the process of determining what is in a security will be different for a time and investors are going to expect more, not less or even the same information about the credit criterion of the loans in this type security. (more…)
Argent Mortgage, the wholesale and correspondent lending subsidiary of Ameriquest Mortgage Corporation, recently announced their new “80/20 SIVA†program. This loan program features 100% financing through a 2 loan transaction and provides stated income documentation for self-employed borrowers. The move is yet another in Argent’s recent (more…)
In an effort to make processing sub-prime loans easier and faster, First Franklin introduces their new “LITE†credit program. Essentially this program provides applicants (more…)
