All Posts Tagged With: "liar"
Are Toxic Loans Coming Back?
Our good friends at Realty Times report that some in the mortgage industry believe that no-doc loans and other forms of toxic finance “may soon be making a comeback” and that “some people can’t wait for the no-doc loans.” Really? I have no doubt that some people would be elated by the return of liar [...]
20Jul2009 | Peter G. Miller | 0 comments | Continued
Should Lenders Dump No-Tell Loans?
For many years the lending process has become less and less rigid. In the general case this is a trend to be welcomed, but the question to be asked is this: Have we gone too far? With “stated income” loans borrowers tell the lender how much they make but the lender graciously does not verify [...]
16Sep2008 | Peter G. Miller | 0 comments | Continued
Must Mortgages Be “Suitable” For Borrowers?
How come we have so many toxic loans? “The system is out of balance,” says Sen. Chris Dodd (D-CT), “There is a chain of responsibility that makes these abusive loans possible.” The way Washington works is that you have to read between the lines. Notice that Dodd’s core concern is not “predatory” loans or even [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
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