GoFuckYourself.com - Adult Webmaster Forum - View Single Post

avalanche · 03-19-2006, 10:43 PM

Most subprime (Bad Credit) mortgage lenders have actually reduced the availability of interest only loans because the default rate expected within the next 3-5 years has grown exponentially. New Century one of the top 3 Subprime lenders just recently brought I/O loan back. Right now the only people that are typically doing Interest Only loans are 660+ FICOs which is really B+ to A+ paper. This is only due to the lower loan amounts of high value properties and their ability to get better returns elsewhere, or for example, being self-employed and using there cash-flow to grow their business.

03-19-2006, 10:43 PM
avalanche Confirmed User Industry Role: Join Date: Feb 2005 Location: SoCal Posts: 1,922	Most subprime (Bad Credit) mortgage lenders have actually reduced the availability of interest only loans because the default rate expected within the next 3-5 years has grown exponentially. New Century one of the top 3 Subprime lenders just recently brought I/O loan back. Right now the only people that are typically doing Interest Only loans are 660+ FICOs which is really B+ to A+ paper. This is only due to the lower loan amounts of high value properties and their ability to get better returns elsewhere, or for example, being self-employed and using there cash-flow to grow their business. __________________ Avalanche CherryPimps - Daily Pornstars, LIVE and more!