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Valuation Nightmare! It's falling through and it's not our fault
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Milliewilly wrote: »Because if the bank thinks the borrower will default they shouldn't be approving the loan in the first place and taking the valuation fee!!
They are not assuming that the borrower will default, they are insuring against it, if only in a limited fashion.Milliewilly wrote: »Its sub prime loans that got the economy into this mess in the first place.
And the exponential increase, every 5 years or so, in the amount of money borrowed in those subprime loans is intextricably tied to house price inflation. Falling house prices will lead to falling debt.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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