when you sell a mortgage product waving around the
teaser rate and bury the hidden fees, the escalation clauses and
the penalty issues inside the fine print, it does verge on fraud.
when you sell a mortgage the end user can’t afford, by all
measures of financial reasonability, and you do it solely to generate
a fee for the bank and broker, it is a fraud.
110% LTV? 62% NI? Those are frauds by everyone against everyone.
