Nonprime Lending Accounts for a Third of 2006 Mortgage Originations; Home-Equity Rising
September 7, 2006
Although prime conventional mortgage production – both above and below the conforming loan balance – enjoyed a solid rebound in volume during the second quarter, the nonprime market in 2006 has solidified its one-third share of new production, according to a new market analysis and ranking by Inside Mortgage Finance. An estimated $269 billion of nonprime mortgages were originated during the second quarter of this year, making it the second highest three-month period ever for production of subprime and Alt A home loans...