Global oil crisis essay

In addition to considering higher-risk borrowers, lenders offered increasingly risky loan options and borrowing incentives. Mortgage underwriting standards declined gradually during the boom period, particularly from 2004 to 2007. [39] The use of automated loan approvals let loans be made without appropriate review and documentation. [40] In 2007, 40% of all subprime loans resulted from automated underwriting. [41] [42] The chairman of the Mortgage Bankers Association claimed that mortgage brokers, while profiting from the home loan boom, did not do enough to examine whether borrowers could repay. [43] Mortgage fraud by lenders and borrowers increased enormously. [44]

Global oil crisis essay

global oil crisis essay

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