The borrower got the loan and home and the loan officer made thousands in commissions at the loan closing.
See the rest here:
Bill Donius: Looking in the Rear View Mirror:Eight Factors causing the Housing Crisis and Economic Meltdown
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Tags: borrower-got, certain-borrowers, credit-relaxed, did-not, FHA, FHA Loan Application, loan, loan officer, made-thousands, the-loan, the-more, the-traditional, traditional
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Greed, Quest for Yield, Failure of Rating Agencies, Rising Housing Price Expectations, 'Pulse and Pen Lending, Excessive Leverage, Derivatives, 'Holy Alliance turned 'Unholy'?. At a national symposium last month sponsored by the Federal ...