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The New DU. Reply #17: It's better reasoning than comparing it to a purchase at Best Buy.
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Gormy Cuss
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Fri Dec-14-07 04:50 PM
Response to Reply #15 |
| 17. It's better reasoning than comparing it to a purchase at Best Buy. |
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Fact of the matter is that when mortgages were held in portfolio by the lender that is EXACTLY how they operated -- if they didn't think you could afford the loan, you didn't get it. The mortgage business changed and now the loans are securitized. That allowed higher risk taking on the part of the lenders.
If you believe that "greedy-ass gits" are the bulk of the people defaulting on loans these days, you're incorrect.
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