Moms always say it pays to share.
Now, mortgage hunters can find out exactly how much. National Commerce Bancorp. of Memphis, Tenn., recently rolled out what's known as a shared appreciation mortgage, or SAM, through its Southeast branches and NCBS Correspondent Lending division, which provides loans via affiliated banks and mortgage companies around the country. The loans let borrowers get lower rates and payments in exchange for sharing with their lenders part of the appreciation in value their properties experience. While the concept isn't new, this is the first time in recent mortgage history an institution has attempted to make the loans widely available through a high profile, nationwide launch. We've been getting some incredible feedback and a lot of excitement.