All Posts Tagged With: "obligation"
Who Should Loan Officers Represent?
For all the talk of foreclosures and failing lenders, the bottom line is this: The mortgage lending system is both sound and hugely successful. Despite the headlines, most borrowers are making payments. Even among subprime borrowers — the borrowers most in the news — 81 percent are making their monthly loan payments as of mid-2008.
“The [...]
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 “subprime” [...]
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