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Seattle Bubble Forum Archive • View topic - Crazy practices in the mortgage industry.

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Crazy practices in the mortgage industry.

Myth propagated by bitter ignorant renters, or statistical reality ignored by real estate professionals?

Moderators: synthetik, The Tim, Lake Hills Renter

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Crazy practices in the mortgage industry.

Postby Em Gee » Mon Jun 04, 2007 7:06 am

Perhaps I'm naieve, but I was shocked to learn of this practice.

It's essentially "renting" out your credit history to others for them to obtain a higher score. I'm not sure how widespread this practice is, but I would think that it contributes to the higher rate of defaults.

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Postby biliruben » Mon Jun 04, 2007 7:56 am

Yeah. Should be illegal.

Regulators must have been appointed by Bush from his frat class drinking buddies>
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