Yes, you read that headline right….subprime mortgages are making a comeback and they have a new name; “nonprime.” Realty Check’s Diana Olick is reporting that although the subprime mortgage industry vanished after the so-called Great Recession it is now being reinvented as the “nonprime” market. In addition, she reports that Carrington Mortgage is now offering mortgages to borrowers with “less-than-perfect credit” and that demand from both borrowers & investors is exceeding expectations. Indeed…..things might get weird, again…buckle up.
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