Confessions of a Subprime Lender: An Insider's Tale of by Richard Bitner

By Richard Bitner

Former subprime lender Richard Bitner as soon as labored in an that started off aiding deprived buyers yet collapsed because of greed, loss of monetary keep an eye on and willful lack of information. In Confessions of a Subprime Lender: An Insider's story of Greed, Fraud, and Ignorance, he finds the reality approximately how the subprime lending company spiraled uncontrolled, driven domestic costs to unsustainable degrees, and grew to become unqualified candidates into certified debtors via inventive financing. find out about the methods the personal loan might be fastened along with his twenty feedback for severe swap.

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Additional resources for Confessions of a Subprime Lender: An Insider's Tale of Greed, Fraud, and Ignorance

Sample text

G. a population segment like car owners living in a zone), such as in the case of the aggregate models we will examine in Chapters 5 and 6, a certain degree of aggregation of the exogenous data is inevitable. But when the model at base attempts to represent the behaviour of individuals, such as in the case of the disaggregate models we will study in Chapters 7 to 9, it is conceivable that exogenous information can be obtained and used separately for each traveller. An important issue is then whether, as is often the case, it might be preferable on cost or other grounds to use less detailed data (see Daly and Ort´uzar 1990).

8 Planning and monitoring with the help of models A good monitoring system should also facilitate learning by the planning team and provide ideas on how to improve and modify models. In this sense, major disruptions to the transport system, like public-transport strikes, short-term fuel shortages or major roadworks which may temporarily change the network structure and its characteristics, should provide a major source of information on transport behaviour to contrast with model predictions. These unplanned experiments should enable analysts to test and enhance their models.

Moreover, the four-stage model is seen as concentrating attention on only a limited range of travellers’ responses. Current thinking requires an analysis of a wider range of responses to transport problems and schemes. For example, when faced with increased congestion a trip maker can respond with a range of simple changes to: r the route followed to avoid congestion or take advantage of new links; this includes choice of parking place or combination of services in the case of public transport; r the mode used to get to the destination; r the time of departure to avoid the most congested part of the peak; P1: TIX/XYZ JWST054-01 P2: ABC JWST054-Ortuzar February 24, 2011 8:23 Printer Name: Yet to Come 22 r the destination of the trip to a less congested area; r the frequency of journeys by undertaking the trip Modelling Transport at another day, perhaps combining it with other activities.

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