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bobabrahamson
86 Posts |
 Posted - 05/18/2008 : 08:09:12 AM
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| While lenders are getting and deserve some of the blame for where we are at right now, I believe lending practices that were dictated to lenders also deserve some of the blame. If the ultimate buyers of mortgages weren't buying these loans, the guidelines would never have gotten so lax. There was a total lack of government oversight which enabled the secondary market to lead the lenders. It is a classic case of the tail wagging the dog. |
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djorge44
1848 Posts |
Posted - 05/18/2008 : 08:12:46 AM
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And you are not placing ANY blame on the brokers or buyers?
Blame needs to be equally distributed |
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bobabrahamson
86 Posts |
Posted - 05/18/2008 : 08:19:57 AM
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| I couldn't agree with you more. Buyers sticking their heads in the sand, brokers and lenders misplacing customers, appraisers inflating values... there is plenty of blame to go around. |
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syndicator
113 Posts |
Posted - 05/18/2008 : 08:44:03 AM
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| Nobody cared, Everyone's main goal was to get the deal done and get paid. Nobodys neck was on the line. It was all OPM (other peoples money). |
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