Underwriting Too Tight For Countrywide CEO
Its too late Baby... Countrywide Financial Corp CEO Angelo Mozilo told a congressional panel on Friday that he is "extremely concerned" that recent tightening of mortgage underwriting criteria has gone too far.
"For the market to recover, underwriting guidelines need to strike a better balance between providing borrowers with access to loans and lenders and investors with the assurance that these loans will be repaid".
The Natttering One muses... Sure thing Ange, just like those "fog a mirror, get a check" loans you gave out? Which got us all into this mess in the first place? Somebody please put this whiny little f*ck and the rest of the duplicitous real estate crowd out of my misery. Tomorrow, more to come on the duplicitous crowd of real estate cheerleaders who only give a shit about their f*cking commissions.
"For the market to recover, underwriting guidelines need to strike a better balance between providing borrowers with access to loans and lenders and investors with the assurance that these loans will be repaid".
The Natttering One muses... Sure thing Ange, just like those "fog a mirror, get a check" loans you gave out? Which got us all into this mess in the first place? Somebody please put this whiny little f*ck and the rest of the duplicitous real estate crowd out of my misery. Tomorrow, more to come on the duplicitous crowd of real estate cheerleaders who only give a shit about their f*cking commissions.
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