Every day, we're hearing about new subprime and Alt-A mortgage options. But the subprime market today looks vastly different from the old subprime market. The days of stated income loans, where a borrower's income was never confirmed, are over.
In nine minutes, I was able to double check the numbers, create a pre-approval letter, and email it to my customer and her real estate agent - all without having to move from my perch on the couch.