Mortgages resembling the kind of subprime loans that were blamed for the foreclosure crisis are creeping back into the market, leaving some experts and regulators alarmed. The loans give a relatively new twist to seller financing, putting homeownership within reach of borrowers who can’t qualify for a conventional mortgage.
Is subprime lending back?
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Rocket delivers $291M profit amid improved margins and MSR acquisitions
The Detroit-based lender reported a GAAP net income of $291 million from January to March, its highest profit level in two years.