Lenders Can Save Time, Money on Piggybacks By Selling Single Loan Package to One Investor
September 17, 2004
The time-consuming and often unprofitable days of selling so-called piggyback mortgages to separate investors are gone, thanks to a new product announced last month by E-Trade Financial Corp. The new combo loan product enables loan originators to handle piggyback loans as one entity instead of having to coordinate and sell the first conforming loan and the second nonconforming loan separately.