Chapter 1 Banking and the Financial Services Industry

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Chapter 1 Banking and the Financial Services Industry. Credit Crisis of 2007 - 2009. Lenders Made “Sub-Prime” Mortgages Borrowers had insufficient income to make monthly payments Many mortgages had “teaser” rates Low payments resulting in negative amortization Multiple Mortgage Banks Fail - PowerPoint PPT Presentation

Transcript of Chapter 1 Banking and the Financial Services Industry

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