Answers - Real Estate

All the recent buzz concerning the meltdown of some sub prime lenders has undoubtedly created a dilemma for borrowers with less than great cred

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

it who need to acquire home financing. “I’m sure many people who were planning to purchase a home soon are now unsure whether to move forward o

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

wait until the dust settles,” says Yolanda Phillips, a Realtor with ReMax Around Atlanta.

Although the default rate among sub prime borrowers

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

has been significantly higher than their conforming counterparts recently (about 13% compared with a 2% default rate among conforming borrowers

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

, there are actually many positive reasons why it makes sense for home buyers to continue with their plans to purchase a home.

Several of thes

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

benefits include the fact that interest rates are still low and are stabilizing now as the market adjust. Home sellers are also more inclined

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

o make better offers and add extra incentives. Additionally, regulators have tightened lending guidelines. This keeps lenders and loan officers

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

in check - which is actually in the borrower’s best interest.

Much of the sub prime default rate is due to some loan officers putting borrower

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

into loans that were more than they could afford. While other borrowers simply weren’t properly educated about the ARM products and the potent

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

al risks associated with an adjustable rate mortgage. Responsible loan officers don’t just want to get clients into a home, we want them to be

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ble to keep their houses. I have often counseled new home buyers to choose a more modestly priced home than what they were originally consideri

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ng.

“We have to take a client’s whole scenario into consideration, not just their credit score and income.” says mortgage consultant and ML123

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

co-founder, Julian Jackson. “ It’s important for new homebuyers to understand that a lower interest rate isn’t always synonymous with the best

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

oan program based on their particular situation.

Borrowers should really choose a loan based on a number of variables, including affordability

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

stability of payments as well as their overall financial responsibilities and lifestyle requirements. Future homeowners also have a responsibi

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ity to make sure that they are purchasing a home for the right reason. If their goal is to keep up with the Joneses, they may want to reassess

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

heir priorities.

In spite of the recent closings of a few lenders’ doors, there are still plenty of lenders who offer programs for borrowers w

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

th less than perfect credit scenarios. Working with a mortgage consultant who is knowledgeable about all the various loan programs, willing to

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ducate you about the process and provide you the best advise regarding your particular situation is also crucial in today’s climate.

Armed wit

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

this information, new homebuyers can move forward confidently because they understand what to be mindful of when applying for a mortgage today

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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