Confessions of a Subprime Lender An Insider's

Former subprime lender Richard Bitner once worked in an industry that started out helping disadvantaged customers but collapsed due to greed, lack of financial control and willful ignorance. In Confessions of a Subprime Lender: An Insider's Tale of Greed, Fraud, and Ignorance, he reveals the truth about how the subprime lending business spiraled out of control, pushed home prices to unsustainable levels, and turned unqualified applicants into qualified borrowers through creative financing. Learn about the ways the mortgage industry can be fixed with his twenty suggestions for critical change.

Richard Bitner was president and cofounder of Kellner Mortgage Investments, a subprime mortgage company that peaked at sixty-five employees and $225 million in annual loan volume. He is Managing Director for Housing Wire, a leading mortgage industry online publication.

Visit Richard's blog at www.lendingsanity.com.

Acknowledgments	p. ix
Introduction	p. xi
Why I Bailed Out of the Industry	p. 1
The Gunslinging Business of Subprime Lending	p. 15
The Underbelly: Mortgage Brokers	p. 39
Making Chicken Salad Out of Chicken Shit: The Art of Creative Financing	p. 73
Wall Street and the Rating Agencies: Greed at Its Worst	p. 103
Secondary Contributors: The Fed, Consumers, Retail Lenders, Homebuilders, and Realtors	p. 127
How to Fix a Broken Industry	p. 151
Glossary	p. 183
Resources	p. 185
Table of Contents provided by Ingram. All Rights Reserved.

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Confessions of a Subprime Lender An Insider's Tale of Greed, Fraud, and Ignorance

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