The Mortgage Industry Gives The Press Reasons To Criticize

It seems that our mortgage industry can't go one day without some sort of ridicule from the press. The past two Business Week articles have been expecially interesting with a lot of truth behind them, which in the past has always had me sratching my head that people would just get away with not doing things right. Well I am glad to see that the press is starting to get to those firms and individuals that just don't have the ethics and morals that the mortgage industry needs.

• Sex, Lies, and Mortgage Deals - Nov. 24, 2008 Business Week
• The Subprime Woves are back - Dec. 1, 2008 Business Week

Rather than me recapping on each of these stories, you should read them for yourself. These articles are windows into went went wrong within the lending side of the mortgage business. Keep up the good work editors, you are doing a swell job embarresing the mortgage industry.

The issue is the press and regulators keep this mortgage meltdown and credit crisis extremely one sided and the regulators have done an extremely good job making the consumers the victim when they are as much to blame as everyone else. People need to take responsibility for their actions and borrowers are equally to blame as the rest of the mortgage industry.