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Mortgage Fraud - Clarification of the Subprime Crisis and the Credit Crunch - by Shawn Cornell I think its important to clarify the vague over simplifications you hear in the news describing the "Subprime Crisis" or the "Credit Crunch." The story begins with commission hungry brokers and ends with consumers struggling to keep their homes as their adjustable rate mortgages (ARMs) begin to reset after their teaser rate period expires. After a quick look at the players in the lending industry it becomes clear what happened to the Subprime market. |
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