Wholesale Mortgage Market Embracing Era Of ‘Piggyback’ Loans, New Survey Reveals
November 18, 2005
The wholesale market appears to be actively embracing the era of so-called piggyback loans – second mortgages used to reduce loan-to-value ratios and avoid private mortgage insurance. According to the results of a new nationwide study of the wholesale mortgage market sponsored by Inside Mortgage Finance Publications and conducted by Campbell Communications, more than half of mortgage brokers surveyed reported using piggyback loans on 50 percent or more of their transactions…