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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: kris b who wrote (71411)10/8/2006 1:31:25 PM
From: UncleBigs  Read Replies (2) of 110194
 
Lenders won't voluntarily withdraw credit availability until it becomes unprofitable to extend credit. The individuals responsible for making credit decisions are compensated based on loan production. They care more about their personal bonus than the bank's long-term credit quality.

The new mortgage guidelines are not something the mortgage lending industry wants. They are more than willing to continue extending credit on the most lax and reckless terms in our history.
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