FHA Not the New Subprime
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| Jerami A. Marshal is the former president of Wakefield-based Summit Mortgage and a 31-year veteran of the mortgage banking industry. |
By Jerami A. Marshal
Is HUD the overnight loan sensation assisting loan originators’ production in the wake of the mortgage industry meltdown, or the next subprime crisis of 2010? We have hardly risen out of what is arguably the most devastating mortgage disaster since 1929, yet we find production personnel (who could hardly spell FHA six months ago) demanding their employers add government lending to their quiver of loan products.
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