Mortgage Market Reopens to Risky Borrowers -- "Liar Loans" Are Back!!

Mortgage Market Reopens to Risky Borrowers   

"Liar Loans" Are Back

Largely gone are the monikers subprime and Alt-A, a type of mortgage that earned the nickname “liar loan” because so many borrowers faked their income and assets. Now they are called non-qualified, or non-QM, because they don’t comply with post-crisis standards set by the Consumer Financial Protection Bureau for preventing borrowers from getting loans they can’t afford.

More info: https://www.amazon.com/Liar-Loan-Jaso...

More info:  https://www.wsj.com/articles/mortgage...

Link: https://youtu.be/vPpSChh8xo4

Borrowers took out $45 billion of these unconventional loans in 2018, the most in a decade, and origination is on track to rise again in 2019, according to Inside Mortgage Finance, an industry research group.Aug 21, 2019

Mortgage Market Reopens to Risky Borrowers - WSJ

https://www.wsj.com › articles › mortgage-market-reopens-to-risky-borrowe...