The Joe Walker Podcast Housing Bubble Week: Getting Things Done In Western Sydney - John Hempton
8 snips
May 20, 2019 AI Snips
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Episode notes
Flexible Lending
- Officially, banks could lend 6.8 times income, but unofficially, honest brokers lent 7.2 times.
- Brokers had connections to others who could "get things done" for loans exceeding that multiple.
Undercover Investigation
- John Hempton and Jonathan Tepper toured Western Sydney posing as a gay couple.
- They investigated mortgage broker practices and bank lending standards by visiting different brokers.
Deceptive Practices
- They met a mortgage broker associated with Nathan Birch, a property seminar guru, who taught clients how to deceive banks.
- This included methods for inflating property valuations to secure more loans.