JROCK
Preeminent
But that is with EVERY LOAN, not just the sub-prime ones.
You are stretching it..........First, let's make it clear that all real estate loans are not made by "brokers." Secondly, let's understand that when brokers "do deals," in many instances the prospective buyers set up the guidelines. Prospective buyers go on "spreads." If the lending guideline don't fit the profile, it will not be bought. Of course all loans go through the normal due diligence. The difference is your prime loans don't have as much risk, have better debt ratios, and most often fix with lower rates. Thus, unaffordability is inconsequential compared to a sub prime customer. The fact that they went through the same process compared to the sub prime customer is moot.