So now they offer subprimes.- Tammy has a mortgage for those withlow credit or high debt....
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So now they offer subprimes.
- Tammy has a mortgage for those with
low credit or high debt. It's called a subprime mortgage. Many of these loans
entice borrowers with no money down
and low monthly payments. Back in 2001,
so-called subprime loans made up just 5% of
the mortgage market. Five years later,
it was up to 20%. They targeted everybody
who was ever gullible
- Tammy has a mortgage for those with
low credit or high debt. It's called a subprime mortgage. Many of these loans
entice borrowers with no money down
and low monthly payments. Back in 2001,
so-called subprime loans made up just 5% of
the mortgage market. Five years later,
it was up to 20%. They targeted everybody
who was ever gullible
Full Transcript
00:00:01.000 --> 00:00:03.868
- So now they offer subprimes.
- Tammy has a mortgage
00:00:03.962 --> 00:00:06.045
for those with
low credit or high debt.
00:00:06.131 --> 00:00:08.214
It's called a subprime mortgage.
00:00:08.299 --> 00:00:10.165
Many of these loans
entice borrowers
00:00:10.026 --> 00:00:12.502
with no money down
and low monthly payments.
00:00:12.595 --> 00:00:15.838
Back in 2001,
so-called subprime loans
00:00:15.932 --> 00:00:18.047
made up just 5% of
the mortgage market.
00:00:18.056 --> 00:00:20.893
Five years later,
it was up to 20%.
00:00:22.272 --> 00:00:24.138
They targeted everybody
who was ever gullible.
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Movie Summary
Inside Lehman Brothers is the autopsy of a crime by those who tried to prevent it from within. Mortgage brokers from California and a handful of New York executives called out these fraudulent transactions. But nobody listened.
