When considering buying a house, wouldn't it be nice to know how many people around you have a neg-am loan? This isn't readily-available information, unfortunately. But if you are thinking about buying in a new or newer tract, you can judge by the builder's in-house lender.
The builders give incentives to buyers to use the in-house guy, and it's usually enough money that it's crazy to NOT use them, as long as the rates and programs are competitive.
Take Pardee Home Loans, for example. They are a joint-venture with Wells Fargo, and though Wells has had their share of write-offs lately, they weren't from neg-am loans - they've never done one.
So those of you who might consider buying in a Pardee tract around Carmel Valley, and are waiting for the resetting neg-ams to kick in, you might be disappointed. Work with a five-year and seven-year timetable instead, Wells Fargo is more of 5 and 7-year-fixed lender, for those borrowers who may have taken a loan other than a 30-year fixed.