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Product Highlights About This Item We aim to show you accurate product information. Manufacturers, suppliers and others provide what you see here, and we have not verified it. See our disclaimer. 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. Specifications Publisher Wiley. Customer Reviews. Write a review. See any care plans, options and policies that may be associated with this product. Email address. Please enter a valid email address. Walmart Services. It starts with foreclosing on a borrower he knew shouldn't have been given a mortgage in the first place even though the loan fit the industry's guidelines.
He relates the story of his house catching fire, and how this prompted him to re-evaluate his priorities and sell his stake in the company just as profits were plummeting and sales were hitting an all-time high.
A year after Bitner bailed, the industry imploded, and he watched his former company close down.