ISBN: 9780470440612

Real EstateOne insider's rollercoaster account of the subprime implosionRichard Bitner founded his own subprime mortgage company just as the industry took off. In five years, he watched h… More...

Real EstateOne insider's rollercoaster account of the subprime implosionRichard Bitner founded his own subprime mortgage company just as the industry took off. In five years, he watched his company grow from a tiny operation to a booming business. But something wasn't right...As housing prices skyrocketed, Bitner watched greed and fraud overtake the industry. Eventually, he became disenchanted after foreclosing on a subprime borrower who was given a legitimate, industry-standard mortgage—a loan Bitner realized never should have been made. Seeing the ugly writing on the wall, he sold his stake in the business before the industry imploded under a mountain of bad debt.Confessions of a Subprime Lender pulls back the curtain on the players who created the subprime disaster, including brokers, lenders, Wall Street investment firms, and rating agencies who worked the system to their advantage. From his unique perspective as a subprime lender, Bitner reveals:Why nearly three out of every four mortgages were misleading or fraudulentHow unscrupulous brokers tricked lenders and gullible borrowersHow brokers and lenders turned unqualified applicants into qualified borrowersWhy Wall Street and the rating agencies are largely to blame for the collapseInterwoven with dramatic personal anecdotes, Confessions of a Subprime Lender explains how the subprime industry blew up and concludes with a comprehensive solution for rebuilding it by forcing changes on all the key players.Bitner's thorough review of the subprime lending industry provides a behind-the-scenes look at the mortgage mess. From the broker on Main Street to the investor on Wall Street, it's an unabridged version of what went wrong and how it needs to be fixed.—Bill Dallas, founder, First Franklin Mortgage, one of America's largest subprime lenders, before it collapsedThis is an in-depth, eye-opening examination of the problems impacting the housing and mortgage markets.—Matthew McIntyre, CEO, Puritan Financial Group, Inc. Digital Content>E-books>Business>Business & Economics>Busn Profiles, Wiley Digital >16<

2008, ISBN: 9780470440612

An Insider's Tale of Greed, Fraud, and Ignorance, eBooks, eBook Download (EPUB,PDF), 1. Auflage, Former subprime lender Richard Bitner once worked in an industry that started out helping … More...

An Insider's Tale of Greed, Fraud, and Ignorance, eBooks, eBook Download (EPUB,PDF), 1. Auflage, Former subprime lender Richard Bitner once worked in an industry that started out helping disadvantaged customers but collapsed due to greed, lack of financial control and willful ignorance. In Confessions of a Subprime Lender: An Insider's Tale of Greed, Fraud, and Ignorance, he reveals the truth about how the subprime lending business spiraled out of control, pushed home prices to unsustainable levels, and turned unqualified applicants into qualified borrowers through creative financing. Learn about the ways the mortgage industry can be fixed with his twenty suggestions for critical change. [PU: John Wiley & Sons], Seiten: 204, John Wiley & Sons, 2008<

2008, ISBN: 9780470440612

Former subprime lender Richard Bitner once worked in an industry that started out helping disadvantaged customers but collapsed due to greed, lack of financial control and willful ignoran… More...

Former subprime lender Richard Bitner once worked in an industry that started out helping disadvantaged customers but collapsed due to greed, lack of financial control and willful ignorance. In Confessions of a Subprime Lender: An Insider's Tale of Greed, Fraud, and Ignorance, he reveals the truth about how the subprime lending business spiraled out of control, pushed home prices to unsustainable levels, and turned unqualified applicants into qualified borrowers through creative financing. Learn about the ways the mortgage industry can be fixed with his twenty suggestions for critical change. eBook Richard Bitner ePUB, John Wiley & Sons, 11.11.2008, John Wiley & Sons, 2008<

ISBN: 9780470440612

Digital Download, Produktgruppe: Digital Book Service, Subjects, Books, [PU: Wiley]