Subprime Mortgages in N.Y. From a Different View

Summary

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Mortgage delinquencies are on the rise in Monroe County and most of the blame is being placed on banks and lenders, who some say have lenient qualifications when it comes to subprime mortgages.

"I would not say that a person could obtain a subprime loan too easily, I would rather say that subprime mortgages make home ownership available to a group of buyers that otherwise might not have been able to buy a new home," said Anne Levin, a mortgage broker and owner/operations manager of First Funding Network, Inc.

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Subprime Mortgages in N.Y. From a Different View

Brokers in New York State are governed by the New York State Banking Department (NYSBD), which has created laws to protect consumers.

Levin said she ...

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