Hi Guys,
I have just recently completed one major refinance of three IPs with Wizard and I am currently purchasing another IP using Wizard as well. I also have IPs with 2 different financial institutions. I read recently somewhere that regional banks, credit unions and Wizard all have securitised loans whereas other banks have low securitised loans. I am not sure I understand this and I was hoping someone could “pleeze explain!!!” I could of course have misunderstood the article but the more securitised loans you have the more likely the mortgage insurers may detect you on the radar? I would appreciate some advice from fellow investors.[blink]
Every dog has his day but the nights below to us pussycats!
Securitisation happens when a wholesale lender packages a number of loans together and sells them to investors. There is a lot of money out there doing this including superannuation funds and some of the small banks.
All securitised loans will require mortgage insurance. Some of the banks also ask for it even if they don’t securitise their loans. The larger banks may self-insure.
Wherever you get your finance will turn up on your credit report. It is difficult to hide anything these days.
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