Prior to 2008, mortgage lenders in the United States required a house inspection to assess its value,

Question:

Prior to 2008, mortgage lenders in the United States required a house inspection to assess its value, and often used the same one or two inspection companies in the same geographical market. Following the collapse of the housing market in 2008, mortgage lenders required a house inspection, but this was arranged through a third party. How does this illustrate a conflict of interest similar to the role that credit-rating agencies played in the global financial crisis?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

The Economics Of Money Banking And Financial Markets

ISBN: 978-0134376936

6th Canadian Edition

Authors: Frederic S Mishkin ,Apostolos Serletis

Question Posted: