Investor Culture and the meltdown.

from Blown Mortgage by Chris

"I’ll have to go stated," the guy on the other end other end of the phone said. I was then given a list of demands from this individual, from coming to three houses he wanted to purchase from a friend (for 25% more than comparable sales were going for) to the fact that he had a 690 credit score and thus didn’t want to pay a lot of money for this loan. "Other lenders," he said, "Didn’t want to work hard and get creative to get deals done in the new market."