Conventional Conforming Underwriting Updates, New Products

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Posted To: Pipeline Press

I remember when being worth a million bucks really meant something, and my parents occasionally pointed out someone who they thought was a millionaire. Now they’re a dime a dozen, especially in the United States where there are over 15 million people who are worth $1 million or more (almost half of the 36 million in the world). The wealthiest 1% of the world’s population now owns 50.1% of the world’s wealth versus 45% in 2001. Certainly the gap between the haves and the have nots is widening as the total wealth in the world grew by 6% over the past 12 months to $280 trillion, marking the fastest wealth-creation since 2012, according to a new report from Credit Suisse . More than half of the $16.7 trillion in new wealth was in the U.S. Lender News Fannie Mae and Freddie Mac (the…(read more)

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