Non-conforming mortgage business is currently on the increase according to broker research from GMAC-RFC.
A survey of mortgage brokers, carried out by GMAC-RFC following a record number of non-conforming applications in March, revealed brokers are now far more active in the non-conforming sector, with over 90% claiming they expect to see the sector increase in 2006. Results of the survey show 96% of brokers believe the non-conforming sector as a whole will increase in 2006, while 95% believe their own business in this section of the market will grow. It also revealed 57% of the brokers non-conforming business is within the Near prime area of the market, while the key driver in choosing a le...
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