Encompass and Subservicer Products; Jumbo, Non-QM, Non-Prime, ARM News

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Posted To: Pipeline Press

What happens when you combine an already tight housing market, marijuana, a Chinese crime syndicate, and the U.S. government? The answer is not a movie starring Jackie Chan, Sean Penn, and Denzel Washington. “This represents one of the largest residential forfeiture efforts in the nation’s history ,” the U.S. Justice Department said. (Marijuana is still illegal under federal law, and nothing about California’s law OKs growing pot on federal land either.) While we’re on “unusual” transactions, a unit in the Millennium Tower in San Francisco sold for $4.66 million. Yes, for that price you’ll own a four-bedroom, 3,814-square-foot condo in a sinking and tilting skyscraper . Jumbo, ARM, Non-QM, Non-Prime, and Nonconforming Tidbits Non-QM loans aren’t…(read more)

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