Understandably the mortgage industry and the insurers of loans, including the Federal Housing Administration (FHA), needed to have been doing more to mitigate risk in the previous years. It is no secret what has happened to our economy largely as a result of the imploding of the mortgage industry.
Subprime lending was fueled, in the larger part, by a sense of security served up by the ratings agencies like Standard and Poors. The higher ratings on mortgage backed securities resulted in ...
via examiner.com
So if, say, 30% of the people who can qualify for a home loan today cannot qualify in 29 days from today - is anyone doing the RIGHT thing?
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