|The lawsuit, filed in U.S. District Court in Northern California, alleges that Pulte's 'one-stop shopping' business model, in which it controlled sales, financing, settlement services and appraisals, allowed it to sell homes at inflated prices and give buyers mortgages they could not afford.
Since Pulte Mortgage, Pulte's financing subsidiary, quickly sold its loans on Wall Street, it was not affected when buyers defaulted,
Read the rest of the story HERE:
Margaret Bassett passed away August 21, 2011. She was a treasured member of the Opednews.com editorial team for four years.
Margaret Bassett--OEN editor--is an 89-year old, currently living in senior housing, with a lifelong interest in political philosophy. Bachelors from State University of Iowa (1944) and Masters from Roosevelt University (1975) help to unravel important requirements for modern communication. Early introduction to computer science (1966) trumps them. It's payback time. She's been "entitled" so long she hopes to find some good coming off the keyboard into the lives of those who come after her.
|The views expressed herein are the sole responsibility of the author
and do not necessarily reflect those of this website or its editors.