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 enlarge | Author: Richard Bitner
Publisher: Wiley
Category: Book
List Price: $19.95
Buy New: $10.70
You Save: $9.25 (46%)
New (43) Used (11) from $10.70
Rating:  32 reviews
Sales Rank: 52498
Format: Illustrated
Media: Paperback
Edition: illustrated edition
Number Of Items: 1
Pages: 208
Shipping Weight (lbs): 0.6
Dimensions (in): 8.9 x 6 x 0.6
ISBN: 0470402199
Dewey Decimal Number: 332.7220973
EAN: 9780470402191
ASIN: 0470402199
Publication Date: June 30, 2008
Availability: Usually ships in 1-2 business days
Shipping: International shipping available
Condition: Brand New, Perfect Condition, Please allow 4-14 business days for delivery. 100% Money Back Guarantee, Over 1,000,000 customers served.
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| Customer Reviews:
 Well written - great resource July 8, 2008
0 out of 1 found this review helpful
This book is well written. It explains the subprime business in a way anyone can understand without being condescending. Not only that, it goes on to analyze why this mess happened, and what might be done to prevent it from happening again. Great book.
 this is hilarious! July 8, 2008
12 out of 23 found this review helpful
I read the Newsweek article and I find it funny that Mr Bitner was cashing these HUGE paychecks while wondering how these borrowers would pay for the loans. Bet he wasn't losing any sleep while driving his $100,000 car and living in his million dollar house. I think its laughable that he puts most of the blame on the brokers. I've been in the mortgage business for 12 years and have always strived to get my customers the best rates and loans for their particular situation. By and large, the vast majority of brokers do the same. We're getting bad press from this guy so he can appease his guilty conscience. Mr Bitner, why don't you tell the public how many points you had stacked into your loans you sold off to Wall Street?? Thats the REAL evil in this was Wall Street. They kept pushing all these putrid subprime backed securities and didn't care if the borrower could pay the loan if it went to an ARM. Well that and based on the idiotic belief that houses will ALWAYS appreciate. Bear Stearns was bailed out by Washington and they were the biggest player in this. Hmmmm don't you think the "speculators" in oil futures right now are hedge funds and Wall Street trying to make up for losses on subprime Mortgage Backed Securities. The brokers, lenders, and borrowers were only pawns in a game by Wall Street to reap billions in profits. Now THEY are reaping what they sow.
One last thing Mr Bitner, if you want to truly do something good for the borrowers out there who are suffering...why not donate all your profits to the New Hope Alliance? Help people going into foreclosure instead of coming across as a weasel whos still trying to cash in.
Superb. This is the One to Buy. July 5, 2008
6 out of 9 found this review helpful
If you want a book that tells you why things went so wrong in subprime lending, this is the book. Not only is (or more correctly, was) the author an insider in the industry, he is bright, extremely perceptive, and, most importantly, he has a conscience. In addition, he is an extremely able writer. He takes a topic that others have reduced to technical mush and presents it in a clear, precise, pointed fashion. The book is a nice collection of on-the-ground examples placed in a perceptive and morally-balanced "big picture." There are insights here that you won't find anywhere else.
Let me make it clear: I have no connection with the author in any way, shape, or form. I was looking for a good, well-written book that gave me new insights into the sub-prime mess. I bought five different books. This one was clearly the best. A couple of the others were useful, but they didn't have the appeal of hearing all of this explained by a very bright, extremely knowledgeable insider.
If you want to know how all of those banks in Europe got duped into buying bonds backed by laugher mortgages, or how Bear, Stearns got taken down, you want to continue your search. But if you want to know how this massive market failure happened in the first place, this author, Richard Bitner, will tell you.
Great Read July 5, 2008
This book does a great job of pointing out the inconsistencies in the industry - inconsistencies that led to the collapse of Subprime lending.
The book is a flowing read that someone who does not know the industry can read and gain an understanding of the Subprime mess. Every potential homebuyer should read this book.
It's about time July 3, 2008
Bitner's take on subprime lending reads like an insider's indictment of a process that was doomed to fail the minute it first was set into place -- and he's not above blaming himself, which is refreshing. But his book gives the inside dirt that no reporter would ever get, on how borrowers were squeezed into loans and what brokers do to dupe lenders into making bad loans. It also gives some down-to-Earth suggestions on fixing this mess.
I bought it because the WSJ reviewed it and gave the book a thumbs up. In this case, the WSJ was spot on -- this is a five star book all the way!
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