Crazy practices in the mortgage industry.

edited June 2007 in Housing Bubble
Perhaps I'm naieve, but I was shocked to learn of this practice.

It's essentially "renting" out your credit history to others for them to obtain a higher score. I'm not sure how widespread this practice is, but I would think that it contributes to the higher rate of defaults.

'Piggybacking' Roils Credit Industry

Comments

  • Yeah. Should be illegal.

    Regulators must have been appointed by Bush from his frat class drinking buddies>
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