About those greedy banks and how to deal with them in the future.

As a financier who deals on a regular basis with all size and type banks, I thought I’d address in here why did banks give home loans to people who they knew couldn’t repay over the last couple of years, and how to deal with them in the near future.

Basically, I personally believe that most of those “liar’s loans” were fraudulent because even minimal underwriting of the loan files was sufficient to detect the overwhelming majority of them. No honest, rational lender would make such a large number. The epidemic of mortgage fraud was in fact so large that it hyper-inflated the housing bubble, which allowed refinancing to further extend the life of the bubble and the depth of the recession……Read More

Thank You

Ziad K Abdelnour Quotes

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