If you lied on your mortgage application I will gi

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#25

09-27-2010, 05:58 PM

coadie

Registered Member

Join Date: Jun 2008

Posts: 6,889

Re: If you lied on your mortgage application I wil

Quote:

Originally Posted by Maximilian

Coming from the banking side, I can assure you it wasn't always "lying" going on. The banking side lenders would sometimes do all they could do to push through a loan to their underwriters.

Everyone was in on this. Banks, consumers, government... EVERYONE.

On the market side, the CDO's were bundled and sold in tranches with often understated risk.

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