Why is it so hard to find private money lenders for residential owner-occupied loans? (Real Estate - Apartments, Houses for Rent)

Item ID 14459783 in Category: Real Estate - Apartments, Houses for Rent

Why is it so hard to find private money lenders for residential owner-occupied loans?


Owner-occupied loans are also called consumer-purpose loans. In the aftermath of the 2008 recession and the passing of the Dodd-Frank Wall Street Reform Act, signed in 2010, it became the duty of lenders to protect taxpayers and consumers from investment risks. Lenders or Banks had to work extra hard to prove that borrowers understand loan risk and had to verify a borrower’s credit history, income, and job status.

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