After 30 years of following the roller coaster ups and downs of the mortgage business, I'm finally feeling sick to the stomach.

Booms and busts are exciting, and they're good content for the news media as well, which is probably why I haven’t objected to them until now. But a lot of people get hurt every time the trick cigar blows up in their faces—and not just industry people. This last time, borrowers got burned, too, big time.

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Authoritative analysis and perspective for every segment of the mortgage industry