Audio – Subprime market or fraternity party? Lender thinks the latter

June 26, 2007

A subprime lender told the Reuters Global Real Estate Summit that the market’s meltdown is a healthy thing.

The industry that emerges from the wreckage will have weeded out lenders with insufficiently rigorous underwriting standards, Novelle Financial Services Inc. Chief Executive Mallory Hill said.

Click here to hear Hill comparing reckless subprime lenders to frat boys on a bender.


No comments so far

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see