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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim Willie CB who wrote (4819)8/29/2002 4:38:55 PM
From: MulhollandDriveRead Replies (1) of 306849
 
>> hear from a friend in Philly whose friend works in a mortgage financing firm
their 80% LTV loans are backed with 20% second mortgages originated at the same time
this enables qualification for FannyMae portfolio buyouts
and sidesteps all PMI insurance nuisance<<

that's exactly what my friend just did in S. CA...

financed 95%, did an 80/15 to avoid the pmi.
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