Change Your ‘Target-rich’ Market Adjusting to Non-Conventional Mortgage Products and Compliance Disciplines

ACUMA Pipeline Magazine Summer Edition | by Amanda Phillips, ACES EVP of Compliance

Published August 02, 2022

Borrowing shamelessly from one of hot-shot pilot Maverick’s famous lines in the original Top Gun film, the sudden and rapid interest rate rise has predictably contracted what had for years been a “target-rich environment” for qualified mortgage lending. But that’s not the end of the story. It’s just another sequel, as lending veterans can attest. Although current market conditions challenge their use of traditional, 30-year fixed products, credit union mortgage lenders can serve their housing purchase borrowers with alternatives such as adjustable-rate mortgages (ARMs) and other non-conventional products.

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