Industry News

‘Exotic’ real estate loans examined

Nontraditional loan borrowers less wealthy with weaker credit, report finds
Published on May 24, 2006

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While the use of so-called “exotic” or “nontraditional” mortgage loan products has soared during the housing boom, new research suggests that middle and moderate income borrowers with less-than-stellar credit scores are carrying the brunt of these riskier loans. An analysis ...