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Fairness: Mortgages and Suitability
May 5, 2008 on 11:20 am | In Uncategorized |I had asked at least one year ago whether mortgages and brokers would be judged under the same “suitability” standards that judge stocks and stock brokers.
If you know anyone that has bought a home or commercial property and was sold a mortgage that was not suitable for them, or is a brokerage firm sued for selling “unsuitable” paper, please let me know.
Is it fear or greed that is ruling the marketplace? The rules of good faith and fair dealing do not trump all but there is a sense that one side or the other is clearly in the wrong.
Where do you sit in the equation?
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