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Wednesday, April 25, 2007

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Listed below are links to weblogs that reference What happens when lenders don't care if they are repaid?:

» Incentives and the secondary market from PointOfLaw Forum
Christopher Peterson disagrees with my assessment of subprime mortgages:In [Ted Frank's] view the market is currently adjusting to the problems in mortgage origination. Everything will work out if we just leave the markets alone because "lenders have e... [Read More]

Comments

Mahlon

I agree with you that brokers, appraisers and even originating lenders may still have incentive to make loans which are not proper, but I think you miss the point. Although I did not read the article, I'm sure what he says is that lenders originating for their own portfolios, and the secondary market which is purchasing loans, will impose more stringent requirement on those up-stream from them. In essence, the flow of money to the "front-line" people will not be as open as it has in the past.

Ted Frank

My trackback doesn't seem to have taken, but I have responded at Point of Law.

http://www.pointoflaw.com/archives/003819.php

Brian

Great post. We need to hear more from you!

Bob

Mortgage loans (and the like) should only be given to those who can repay. Today's credit crisis is an obvious illustration of that.

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