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Toxic Loan Peddlers Failed to Foresee the Housing Crash

When the housing market collapsed under a pile of toxic mortgage paper, many ordinary people lost money on their investments, their properties declined in value, and many others lost their homes in foreclosure. With all this pain, people want someone to blame — some nefarious person must have foreseen this disaster and made billions, right? Some did. Did the professionals who packaged toxic loans into mortgage-backed securities knowingly produce garbage merely to profit from the fees on their bad loans?

via Toxic loan peddlers failed to foresee the housing crash » Mortgage & Foreclosure News.

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