2nd Mortgages are gone – what’s today’s new lending strategy?
October 26, 2009 7 comments
Since the mortgage melt-down, lenders across America have mostly doing away with Stated Super Jumbo Seconds. There is no longer a secondary market to purchase this type of loan.
The sub-prime meltdown actually began in December 2006, when lenders did away with stated 100% investor loans and it has gone much, much further since then.
Estimated losses [...]
