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Loan Modification
: Mortgage Lender Implode-o-MeterCiti: The Mortgage Underwriter's Tale
By Implode-Explode Heavy Industries
"The Financial Crisis Inquiry Commission is holding more hearings this week, and the prepared testimony of Richard Bowen, a former senior mortgage underwriter at Citigroup, is well worth reading.
He explains how between 2005 and 2007 Citi?s underwriting standards simply fell apart, as the securitization professionals in the investment bank would override or ignore Citi?s own underwriters..."
Full post as published by Mortgage Lender Implode-o-Meter on April 07, 2010 (boomark / email).
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