John Dugan
John Dugan
event fare house interest loans looser mortgage products questions raised rates rise standards widespread
But looser underwriting standards and the more widespread penetration of riskier mortgage products have raised questions about how these loans will fare in the event of a rise in interest rates or a softening in house prices,
balances bleak borrowers estate evidence exceed face loan prices prospect underlying value
If real estate prices decline, and there already is evidence of softening in some markets, these borrowers could face the bleak prospect of loan balances that exceed the value of the underlying properties.