{"id":8064,"date":"2008-12-27T14:26:02","date_gmt":"2008-12-27T21:26:02","guid":{"rendered":"http:\/\/www.josemarquez.com\/xsml\/archives\/234"},"modified":"2008-12-27T14:26:02","modified_gmt":"2008-12-27T21:26:02","slug":"piranas","status":"publish","type":"post","link":"https:\/\/www.josemarquez.com\/etc\/2008\/12\/27\/piranas\/","title":{"rendered":"frenzy"},"content":{"rendered":"<p><a href=\"http:\/\/www.nytimes.com\/2008\/12\/28\/business\/28wamu.html?_r=1&#038;pagewanted=all\">The New York Times<\/a>:<\/p>\n<blockquote><p>WaMu\u2019s retail mortgage office in Downey, Calif., specialized in selling option ARMs to Latino customers who spoke little English and depended on advice from real estate brokers, according to a former sales agent who requested anonymity because he was still in the mortgage business.<\/p>\n<p>According to that agent, WaMu turned real estate agents into a pipeline for loan applications by enabling them to collect \u201creferral fees\u201d for clients who became WaMu borrowers.<\/p>\n<p>Buyers were typically oblivious to agents\u2019 fees, the agent said, and agents rarely explained the loan terms.<\/p>\n<p>\u201cTheir Realtor was their trusted friend,\u201d the agent said. \u201cThe Realtors would sell them on a minimum payment, and that was an outright lie.\u201d <\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The New York Times: WaMu\u2019s retail mortgage office in Downey, Calif., specialized in selling option ARMs to Latino customers who spoke little English and depended on advice from real estate brokers, according to a former sales agent who requested anonymity because he was still in the mortgage business. According to that agent, WaMu turned real&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/www.josemarquez.com\/etc\/wp-json\/wp\/v2\/posts\/8064"}],"collection":[{"href":"https:\/\/www.josemarquez.com\/etc\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.josemarquez.com\/etc\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.josemarquez.com\/etc\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.josemarquez.com\/etc\/wp-json\/wp\/v2\/comments?post=8064"}],"version-history":[{"count":0,"href":"https:\/\/www.josemarquez.com\/etc\/wp-json\/wp\/v2\/posts\/8064\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.josemarquez.com\/etc\/wp-json\/wp\/v2\/media?parent=8064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.josemarquez.com\/etc\/wp-json\/wp\/v2\/categories?post=8064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.josemarquez.com\/etc\/wp-json\/wp\/v2\/tags?post=8064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}