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Former CEO of Washington Mutual - Kerry Killinger | PBD Podcast | Ep. 185
PBD Podcast
Wamu Aa - Why It's Going Wrong
Wamu aggressively stepped up its landing in some of the riskiest loan types, short, tem adjustable rate mortgages. More than half of the real estate loans wamu made were in one of these higher risk categories. Complaints from appraisers and investigation by new york attorney generals that amwill lend, leaned on appraisers to inflate property value to support bigger mortgages. In august, two thousand ad four one will loosen the standard for frot money, to fronting money to third party mortgage brokers with heavier debt loads to make more loans.
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