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Originally Posted by FSETH
Yes, in many cases they do package and sell these loans and it is completely wrong to inflate the portfolios value when doing so. That is sort of a different issue than the bank guaranteeing the price of your home.
The other problem is that most of these sub-prime loans should have never been made in the first place, but that is not all the fault of the bank. As Quicksilver said, many buyers falsified documents or simply used no-doc stated income loans and lied about how much they made. Once again, a lot of blame falls back on the buyers.
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Well we just disagree on the topic. It is in the banks best interest to inflate documentation, inflate home values and turn and burn on the open market. How is the bank NOT responsible for that action?
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