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Posted by: Endoscopy 1 year, 2 months ago

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Endoscopy1 year, 2 months ago

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OK what do you call it when an organization that creates mortgages has to have a high enough CRA rating if they want to expand? In an industry where it is expand or die.

What do you call that? Coercion, big pressure, do it or else. etc.

Take your pick and place it in place of frog marched. The pressure was to give out some bad loans as a cost of doing business in order to expand. The foreclosures they were able to handle. The problem of the housing cost bubble bursting from it is what brought the house of card down. On the books a mortgage is worth the resale price of the property. 30% drop and that much effective money is gone from the institution holding the loans. It was not the foreclosures that were the problem but the effect they had on house prices.

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