Nightmare Mortgages

Nightmare Mortgages
Tom Usher wrote or added | "At...Golden West...selling option ARMs for two decades, deferred interest made up about 59.6% of the bank's earnings in the first half of 2006. 'It's not the loan that's the problem,' says Herbert M. Sandler, CEO of World Savings Bank, parent of Golden West. 'The problem is with the quality of the underwriting.'"

However, he went along with the market to stay in business but sold before the bust. (Unethical?)    

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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