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A Super Jumbo Mortgage is classified in the United States as a residential mortgage or other.. than with the general public, but the greatest increase in originations as a category has been so called "exotic" Super Jumbo Mortgages. Offering.
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"Exotic" mortgages became popular in part because they allow someone of: A. means to get into a home they would easily have been able to afford. B. modest means to get into a home they might otherwise not have been able to afford. C. modest means to build more equity in their home than a traditional mortgage would allow.
Subprime mortgages with exotic features accounted for less than 5 percent of new mortgages in the United States from 2000 to 2006.
Some worry that they’re super risky for the borrower. Others contend that ARMs ultimately end in disaster due to the prevalence of exotic adjustable-rate mortgages leading up to the financial crisis.
High-interest payday loans and subprime mortgages took off under Clinton.. are holding CDOs and other exotic mortgage-backed securities that are deflating.
An avid gardener and horticulturalist, Kanodia flew in exotic plants and trees from India and festooned the grounds with.
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A convicted felon is reportedly in charge of BOFI's foreign-national lending program, the loans contain irregularities and exotic asset pledges,
And analysts of all persuasions blame the mortgage industry for connecting people to increasingly exotic loans that would enable them to afford homeownership, including adjustable-rate mortgages.
Exotic Mortgages Mean "Buyer Beware" by Dianne Molvig / June 4th, 2007 The word exotic may seem better suited to describing a faraway locale for a "Survivor" episode than a mortgage.