The Subprime Lending Saga

Marotta, David John
May 2008
Business Journal (Central New York);5/9/2008, Vol. 22 Issue 19, p8
The article reports on the decline of the subprime mortgage in New York which has cost the world 15% of its market capitalization. It stresses that the financial loss is due to the federal regulations interfering with the free market and not because of the mortgage companies and overextended borrowers. Moreover, the community groups believe that the regulatory pressure is pushing banks to increase their underwriting of low-income loans.


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