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Wednesday, April 25, 2007



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


Great post. We need to hear more from you!

Ted Frank

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


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.

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