O'Reilly logo

Financial Whirlpools by Karen L. Higgins

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 6

A Crisis of Human Proportions

Ethics and Behaviors

When Sheila Smith got a look at what she thought was her dream home, she didn’t hesitate to take it.… It wasn’t long before the dream became a nightmare.… Although Smith and her husband were “viable citizens with good credit,” they were quickly steered into an expensive subprime loan with ballooning payments and hidden fees that they couldn’t keep up with. Their home’s builder was indicted and the mortgage broker was quickly revealed to be collaborating with the builder to, as Smith put it, “unload crappy homes for pretty quick money.”

Bosworth1

The truth is that many of us in the industry were deeply distressed by the growing practice of pushing high risk loans on borrowers who had ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required