Confessions-of-a-Subprime-Lender
Thursday, July 17th, 2008Head over to Yahoo! Finance to take a look at an interesting article by a former subprime lender.
Richard Bitner was an owner in a mortgage shop that made subprime loans and sold them to investors. He is writing a book about his experience from “behind the curtain”.
In the article he details 3 loans that cost his company thousands of dollars.
The article also describes how investors’ desire for mortgage related securities drove the market to make loans to borrowers with riskier and riskier profiles to satisfy the demand.
Confessions-of-a-Subprime-Lender-3-Bad-Loans: Personal Finance News from Yahoo Finance
