So which lending institutions are still offering loans with less than 30% down? Unless they are charging thousands of basis points more than Treasuries annually (and I know they aren’t) then what they are doing, in the face of these obvious (albeit legal) scams?
Short of fairly complete (FHA/FNMA/GNMA…..) nationalization of loan risk, either these scams have to stop, or minimum downpayments will go well beyond 20%.
