Confessions of a subprime lender: step 3 crappy fund
In the the newest publication, publisher and ex lover-lender Richard Bitner possesses to a few of their bad mistakes, providing an internal consider exactly how their agency provided crappy mortgages.
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New york (CNNMoney) — Richard Bitner launched their own financial shop inside the 2000, together with the nice fortune to bail-out of one’s company from inside the 2005, up until the construction crisis hit.
The guy saw the brand new shoddy financing techniques one got us into the this drama first-hand, and has chronicled them in his publication, “Confessions out of good Subprime Financial.” By the point he end, said Bitner, “Lending practices had gone of borderline questionable so you can almost ludicrous.”
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