Those who don’t learn from the past are condemned to repeat it.
I agree! My first job out of college was working with a big bank that gave ridiculous loans out to the worst credit offenders. Folks were getting home loans in the 15-20% range.
3% down on a home is nothing and this terrible problem will come back again.
Just thinking the same thing.
After 30 years in the Mortgage industry let me assure you these cycles never stop. And they never will. The No Docs will be returning also. Count on it. :-)
“Those who dont learn from the past are condemned to repeat it.”
So you are against offering loans to those who are bad credit risks, and then calling those loans a first class product when they are resold to investors? I am too.
Interesting how we the whole mortgage crash is always the fault of the least sophisticated player in the whole game.