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Home » Store » News » Lenders Push No-MI Loans for Purchase Boom

Lenders Push No-MI Loans for Purchase Boom

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Anticipation of a boom in the purchase-mortgage market has prompted some conventional conforming lenders to roll out products with no mortgage insurance, and the response has been overwhelming. The 360 Mortgage Group in Austin, TX, recently launched its exclusively wholesale “NOMI” (no-MI) product and demand has been very strong, executives said. “One week after launch, we have been getting calls from mortgage brokers, correspondents, real estate agents and consumers who are very ...
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