Who needs them?
Why can't we go back to the old fashioned way of doing things?
You know, the way of actually "doing your homework" instead of going through the bureaucratic motions?
To some, exotic loans (ARMs, interest only's) have a market and a purpose for certain homebuyer types.
To others, exotic loans are toxic waste, that should be abolished altogether from the real estate industrial complex.
Whatever the outcome, let's just ensure we do the right thing and not make home realtors angry.
Afterall, nothing can or should stand in the way of that 6% carrot at the end of the homesale rainbow.
No problem. Step aside!