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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: shades who wrote (63949)	6/17/2006 7:41:10 PM
From: John Vosilla	Respond to of 110194

<<<Often, said Stein, Latino brokers are taking advantage of trust they receive in Latino neighborhoods. Also, lower-income consumers are being misled...... One broker in attendance estimated that in the Bay Area some 40%-50% of home mortgages currently are being filed with undocumented - or "stated" - incomes, which is usually inflated so that the borrowers qualify for the loan. In addition, he said, brokers and other loan originators will submit false information about assets to get the loan through, often with the encouragement of even large banks. The banks don't check out the undocumented information because they sell the mortgages quickly,>> I can see this getting real ugly in coming years on so many fronts. We are way ahead of the coverage here than politicians or the media which are still talking about the war and illegal immigration<g>