Loan brokers are continuing to complain about tight underwriting requirements and a lack of financing for condominiums, especially in the devastated Florida market. One New Jersey-based broker who facilitates loans there says the mega banks are requiring at least 40% down for most condo loans in the sunshine state. Mortgage insurers continue to be negative on the state as well. Meanwhile, I continue to receive emails from brokers and loan officers concerning a lack of financing for other property types. Topping the list -- drum roll please -- is manufactured housing. No surprise there, really...
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