Before the 2008 Financial Crisis, US banks and mortgage lenders offer controversial mortgage products such as NINJA (no income, no job, and no assets) loans to the market. Describe the market forces and policy factors contributing to the rise of these controversial mortgage products.

Before the 2008 Financial Crisis, US banks and mortgage lenders offer controversial mortgage products such as NINJA (no income, no job, and no assets) loans to the market. Describe the market forces and policy factors contributing to the rise of these controversial mortgage products.

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter1: Comprehensive Cases

Section1.11: New Century Financial Corporation

Problem 6Q

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D3 Before the 2008 Financial Crisis, US banks and mortgage lenders offer controversial mortgage products such as NINJA (no income, no job, and no assets) loans to the market. Describe the market forces and policy factors contributing to the rise of these controversial mortgage products.

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