Tag Archive for San Francisco

Bubble Watch: They’re Baaaaack…

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A credit union in San Francisco is offering a $2 million, no down payment mortgage loan to borrowers. And while this is being offered by a credit union, credit unions of necessity being more cautious lenders than banks, and the credit union will no doubt vet potential borrowers very carefully, what could be more indicative of a bubble than a no down payment, adjustable rate jumbo loan? Sure, this may not be a NINJA loan, but it’s being offered because of the huge amount of easy money pumped into the financial system by the Federal Reserve.