An interview with a mortgage broker: Tricks of the Trade
It’s very hard to ignore the current events lately about sub-prime mortgages, predatory lending and the skyrocketing surge in foreclosure rates. Making sense of how this debacle came to happen is another story. To find out several ways we can avoid mistakes in loaning and outwit the loaners, we decided to interview an industry veteran based in California who has been in the business for nearly 20 years. For the purpose of anonymity in this interview, we shall call him Ben. Ben, in all his nearly two decades of being in the lending industry, has never seen anything quite like today’s landscape.