The following strikes me as entirely disconnected from reality.
<<"In a number of areas, particularly on the coasts, they have a high risk of price declines in the next two years," says Mark Milner, chief risk officer of PMI.
"These non-traditional loans transfer risk to the borrower," Milner says.>>
What is this guy talking about and where can I get a job as a chief risk officer? At ZERO DOWN exactly what risk is the borrower taking? All that’s really at risk is a down payment so the risk is by definition ZERO with ZERO DOWN!
Somehow the material I tried to post was removed. Here you go!
“In a number of areas, particularly on the coasts, they have a high risk of price declines in the next two years,” says Mark Milner, chief risk officer of PMI.
“These non-traditional loans transfer risk to the borrower,” Milner says.”
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