Sex, lies, brokers, and mortgage sluts define home lending

Mortgage brokers are out and direct lending is in. Many of the major mortgage lenders that brokers dealt with nationwide have either gone out of business, been acquired or pulled back. Some are under indictment for mortgage fraud, while others – both mortgage brokers and mortgage wholesalers – are telling about sex, drugs, parties, and …

Bailout urgency sounds like war with Iraq, Paulson’s ability questioned

Just use our search box to look up “Paulson” and you will see a problem. Henry Paulson was in charge at Goldman-Sachs, and is now the treasury secretary. In August 2007 Paulson said he did not see anything that caused him to reconsider his view that the economic damage from the housing correction was “largely …

Federal Bail-out, Return to the Source?

When the news hit the street, subprime borrowers took the first hit. No one seems to remember the sequence of federal manipulations or new mortgage terms, which were onerous to the point of being predatory. Terms which were deceptive and misrepresented by the mortgage brokers and lenders. Everyone in the industry wants to wheel and …