Amber Barbosa, Mortgage Broker/High School GrajewitSubprime brokers "help" homeowners. Uhhhhh... right. BTW, they are not "homeowners", they are "house-debtors".
I encourage you to follow the link and listen to the NPR audio report. The broker-whores KNEW about the fraud and played a key role in the bubble. Just ask Roxie Chilcott about the phenomenal profits they were "guilty of making"; strange choice of words. And she also said the risks were reasonable.
2008-04-09: Ex-Subprime Brokers Help Troubled Homeowners
Amber Barbosa didn't graduate college. But she did get an education — by working for the now infamous subprime lender New Century Mortgage Corp.
Barbosa was a quick study: A few years later, she struck out on her own as a mortgage broker. "In 2006, I made close to $500,000," she says. Not bad for a 28-year-old with no college degree.
By then Barbosa, who was living outside of San Francisco, had a nice boat, a 27-foot Bayliner. She had several houses, a Mercedes and a Cadillac. "I was riding around in my '07 Escalade," she says. "God, I had three properties at the time — one right on the water with ocean access, another property worth $800,000." (From the audio: "I was living". Yes, that is the definition of "living" in the USA: Escalade and Mercedes. Fu** you, whore!)
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