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> But the expertise and the manpower around vetting the mortgages is a _lot_ of work. Not to be snarky, but the Great Recession didn't give me a lot of confide
by JadeNB 7y ago
> But the expertise and the manpower around vetting the mortgages is a _lot_ of work.
Not to be snarky, but the Great Recession didn't give me a lot of confidence in the expertise involved in vetting mortgages.
- chrisco255 7y agoThis is correct. I worked in real estate prior to the collapse. By 2006, Bank of America and others had already moved to an entirely automated appraisal process and people were able to get loans in excess of 35% of their monthly income no problem.