Responsibility For Subprime Mortgage Crisis
Many experts believe that Brokers and Realtors are largely responsibile for the Subprime mortgage crisis, as homebuyers bore all the burden and risk, while commissions are dependent only upon the final selling price of a home. Many experts believe that collusion with mortgage lenders, along with a monopoly on the MLS created prime conditions for Realtors to earn high-volumes of commission on borrowed money for inflated house values with no risk to the Realtor.
Read more about this topic: National Association Of Realtors
Famous quotes containing the words mortgage and/or crisis:
“Loosened from the minor’s tether;
Free to mortgage or to sell,
Wild as wind, and light as feather
Bid the slaves of thrift farewell.”
—Samuel Johnson (1709–1784)
“When you give power to an executive you do not know who will be filling that position when the time of crisis comes.”
—Ernest Hemingway (1899–1961)