I predict piggybacks will fade away, and mortgage insurance will be required. Maybe piggybacks will be offered to the +750 FICO score borrower. But I’m guessing; I know little about the mortgage business.
I am anxious to see how the lending standards will be tightened as foreclosures rise, both on the government side, and by the investors who’ve been snapping up MBS. This H&R Block scandal was a wake-up call. By next year, we will have many many more.
