Lenders scrambling from subprimeDean Foust
Who thinks that the subprime market is a tinder box ready to blow? Apparently, some of the Wall Street lenders are starting to worry that that's the case. This article from Inman News (free, as long as you catch it within a day or so of posting)discusses how Wall Street investors are starting to turn off the spigot on subprime loans. In some instances, they're insisting they'll only keep the money flowing if the wholesaler buys back a big chunk of dud loans. The wholesalers, in some instances, are opting to file Chapter 11. Bad road ahead...
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