It's a Wonderful Mortgage Loan System
Richard Mize
It's a wonderful life, and Henry F. Potter would hate it.
Potter, the hoary, craggy, cranky, despicable and downright mean banker slumlord antagonist in "It's a Wonderful Life," made his fortune from the sweat of the working class.
Not just the literal perspiration off their brows, but the cold sweat that came in the middle of the night when latent buyer's remorse metastasized into late-term borrower's sorrow.
There are still some things to lament in the housing market. Minority home ownership lags behind the average. New kinds of predatory lending ruin lives.