Bloomberg's Dire Warning on Forthcoming Mortgage Lending Crisis

In an article recently published in Housingwire by Jacob Gaffney it follows up on a piece written earlier in the week where it featured Angelo Christian of American Financial Network in Houston and how small time bankers were making millions off of peddling mortgages to the poor. 

Does This Sound Familiar

The Government is reducing the standards for a mortgage

Mortgage Lenders are offering Non-QM loans.

Borrowers with high debt are buying homes.

History is set to repeat itself. As a note investor, it does not look like this industry will be disappearing anytime soon. Let me know your thoughts on this in the comments below.