Predatory Loan Servicing Fraud – Part Two in a Series RisMedia.com (press release)
Who believed, because of the same unrelenting messaging, that they were doing the right things.The letters to the editors and mindless blog rants try to reduce the argument to irresponsible sub-prime borrowers who got what they had coming to them. Almost all appear to be written by the same angry person and all express the same simplistic overview. It’s called staying on message which is pretty much the “she deserved it defense.”
None mention the fact that real wages have been declining for a decade or that the impetus for lending wasn’t the consumer but the financial intermediaries themselves who could not stand to see all of that cash sitting in pension funds.
Nor is there any reference to securitization of every form of debt including made up debt, (Synthetic CDOs). And no one laughed.
They do not distinguish that the term “sub-prime” doesn’t refer to the borrower but to a loan product designed for maximum returns on credit default swaps.
Refinance Help. Fill this form and get help!
Anderson Financial/Mortgage Intelligence - Winnipeg
Anderson Financial/Mortgage Intelligence www.yellowpages.ca ... Yellow Pages Mortgages Commercial Second Stated Income Refinance Consulting ...
