Secondary Marketers Hit FDIC Abusive Lending Draft
March 5, 2001
Despite mounting pressure at the federal and state level, Wall Street and other secondary market players are sticking to their guns on the issue of predatory lending. "We think it’s an origination issue," said Michael Dorfsman, a spokesman for the Bond Market Association. It’s an argument the association has made frequently in recent months, as regulators have increasingly turned their attention to the investors that provide liquidity for allegedly abusive lenders, particularly in the