Mortgage Brokers Association Struggling To Pay Its Own Mortgage

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Washington Post   |  Jeffrey Birnbaum   |   April 6, 2008 08:22 PM

Read More: Mortgage Bankers Association, Mortgage Crisis, Subprime Mortgage Crisis, Subprime Mortgage Market, Subprime Mortgages, Breaking Business News
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A year ago, the Mortgage Bankers Association was thrilled to sign a contract to buy a fancy new headquarters building in downtown Washington. Interest rates were low, the group's revenues were steady and the prospects for quickly renting out part of the structure were strong.

But since then, the association has fallen on tough times as many of the subprime mortgages dispensed by some of its members proved dicey. Borrowers discovered the loans were more costly than they had anticipated. Foreclosures soared, and cheap, inexpensive credit dried up, slowing the economy.

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- Harrier See Profile I'm a Fan of Harrier

No sympathy here. Serves them right. Swindlers now leveraged themselves out on limb

    Favorite    Flag as abusive Posted 10:28 PM on 04/07/2008
- jp916 See Profile I'm a Fan of jp916

Most people commenting on this article have no idea whatsoever what this organization does. They have nothing to do with bailouts or handouts...educate yourself and speak intelligently about the subject matter at hand.

    Favorite    Flag as abusive Posted 10:18 AM on 04/07/2008
- RabidRightRebel See Profile I'm a Fan of RabidRightRebel

Laughing out Loud!!!!

    Favorite    Flag as abusive Posted 01:39 AM on 04/07/2008
- Moderation See Profile I'm a Fan of Moderation

Mortgage Bankers Association pleading for, then receiving a government bailout allowing them to pay their mortgage in 3...2...1...

    Favorite    Flag as abusive Posted 10:20 PM on 04/06/2008
- ErnestineBass See Profile I'm a Fan of ErnestineBass

..."APPROVED"!

heh heh

    Favorite    Flag as abusive Posted 11:44 PM on 04/06/2008
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Mortgage Bankers Association, Mortgage Crisis, Subprime Mortgage Crisis, Subprime Mortgage Market, Subprime Mortgages
 

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