Sentences with phrase «irresponsible lending caused»
Irresponsible lending caused problems for lenders and borrowers: problems worsened by the effect of complex financial instruments created out of the packaging of bundles of often worthless sub-prime or «toxic» loans.
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«The Fed caused excessive and irresponsible lending in what became the sub-prime mortgage lending crisis,» Bolser told WND.
However, in the years following the 2008 U.S. financial collapse, which stemmed in part from a housing bubble caused by irresponsible mortgage lending, the housing market endured huge turbulence.
The primary mortgage market in the United States was unfortunately experiencing a high level of irresponsible lending and borrowing in prior years, ultimately becoming the cause of our great recession.