Subprime mortgage business in Raleigh (real estate, mortgage broker, credit issues)

[kclrose]

Hi. Just wondering if anyone can offer some insight into the subprime mortgage industry in Raleigh and the surrounding areas. Is their a strong market for this type of borrower? My husband currently works for a subprime lender here in Florida, so we are trying to get an idea of the subprime business in Raleigh. Also, is there a good presence of mortgage brokers in the Triangle area? Which cities would you say offer a stronger subprime market? Thanks so much for your help.

[deuterdu]

I have not specifically checked the area because I have found that every city in the US that I do loans in has A paper and subprime borrowers. I find subprime in million dollar homes in Beverly Hills and in less affluent areas. Poor credit doesn't discriminate.

[MikeJaquish]

What deuterdu said. Sub-prime is everywhere.
Sub-prime is alive and well here.
Our area job growth attracts many folks to the area. Many come here hoping to rebuild their financial lives.
If you look at these forums, and online classifieds like craigslist-real estate wanted, you will see a lot of postings from people looking for a break. I.e., credit issues.

[kclrose]

Thanks for your responses. Do you know what the average subprime loan size is in Raleigh? Thanks again.