Laurie Silver, Northeast sales manager, originated the $800,000 transaction, which involved a 10-year interest only loan
at a 9.
4 million ten-year, interest only loan
with an interest rate of 5.
NovaStar continues to improve the diversity of its product offerings by introducing an Interest Only Loan
option to its wholesale customers.
Washington Mutual Home Loans and Insurance Services Group announced today it will offer a new portfolio product, the 5/1 CMT Interest Only loan
Global Banking News-April 9, 2013--Danish central bank's rethink on interest only loans
welcomed by mortgage bankers(C)2013 ENPublishing - http://www.
The proliferation of what Fed chairman Alan Greenspan dubbed exotic mortgage products such as adjustable rate loans, piggyback loans, interest only loans
, and home equity loans, whose monthly payments can as much as double if interest rates rise to not unfathomable levels, as well as mixed economic signals such as choppy job growth, and the way real estate appreciation has exceeded salary increases have provided fuel for many an apocalyptic scenario.
Risks include the portfolio's lack of seasoning and geographic concentration, as well as the permitted financing of various loan products and a growing percentage of interest only loans
For instance, we're seeing greater demand for interest only loans
and a wider range of adjustable rate products.
We have spent a significant amount of time and research with focus groups and all indications are the Job Loss Protection Programs are a significant selling point, which make our products, including Interest Only loans
, an impressive choice.
Those chickens will begin coming home to roost later this year as payments on adjustable and interest only loans
McGee pointed to the growing use of interest only loans
and the newer so-called option ARMS as another source of potential trouble in the future.
Typically, the interest only loans
convert to fully amortize adjustable rate loans in five years.