Product Details
Former subprime lender Richard Bitner once worked in an industry that started out helping disadvantaged customers but
collapsed due to greed, lack of financial control and willful ignorance. In Confessions of a Subprime Lender: An Insider's
Tale of Greed, Fraud, and Ignorance, he reveals the truth about how the subprime lending business spiraled out of control,
pushed home prices to unsustainable levels, and turned unqualified applicants into qualified borrowers through creative
financing. Learn about the ways the mortgage industry can be fixed with his twenty suggestions for critical change.
Industry Reviews
"...packed with tales of crooked brokers, deceitful customers, avaricious Wall Street banks and all too obliging credit
rating agencies."
(The Guardian, September 19, 2008)
"If this is even near the truth, it is remarkable...Bitner's book was more firmly rooted in the world we live in."
(Prospect Magazine, October, 2008)
"...pulls back the curtain on the players who created the subprime disaster...In a breezy style and from a special
vantage"
(Pensions World, November 2008)
Biographical Note
Richard Bitner was president and cofounder of Kellner Mortgage Investments, a subprime mortgage company that peaked at
sixty-five employees and $225 million in annual loan volume. He is Managing Director for Housing Wire, a leading mortgage
industry online publication.
