• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Credit default swaps and those who issued them are to blame for crisis

Status
Not open for further replies.

USPAP Compliant

Thread Starter
Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
http://www.record-bee.com/ci_10683519


In minority areas, brokers steered prime loan borrowers away from fixed, thirty year loans to ARMs (adjustable rate mortgages) and interest only loans. In many instances, these ARMs didn't reset with interest rates but automatically, which guaranteed that the borrower would default. However, they brought in more money for the broker. Appraisers inflated the values they put on homes, which was especially important for borrowers who were refinancing since it allowed to increase the size of their loans.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks