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What the Increase in Co-Borrowing Means for Residential

More co-borrowing is a creative way the marketplace is responding to the affordability crunch, and it is helping to sustain the housing boom—but there are drawbacks, ATTOM Data’s Daren Blomquist tells GlobeSt.com.

Daren Blomquist Blomquist: “The rising trend in co-borrowers is just one more sign that the housing market is becoming overheated and starting to slowly but surely introduce more risk to keep the real estate engine running at high RPMs.”

IRVINE, CA—More co-borrowing is a creative way the marketplace is responding to the affordability crunch, and it is helping to sustain the housing boom—but there are drawbacks, ATTOM Data Solutions’ SVP Daren Blomquist tells GlobeSt.com. A recent report from the firm reveals that 22.8% of all purchase-loan originations on single-family homes in Q2 involved co-borrowers—multiple, non-married borrowers listed on the mortgage or deed of trust—up from 21.3% in the previous quarter and up from 20.5% in Q2 2016. We spoke with Blomquist about the positives and negatives of this trend and its future implications for the housing market.

GlobeSt.com: What are the positives of having a co-borrower in a loan situation?

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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