Going full tilt!

I like to play poker. I almost never play with real money because I play less aggressive when I’m playing with my own dough. When I play for free, I’m more inclined to take more risks. If I go “full tilt” and lose it doesn’t cost me a dime.

Full tilt: full force, all out.

The subprime mortgage world went full tilt the last couple of years by lending to borrowers who have shown that they can’t pay their phone bill, let alone a mortgage. At the time it looked like a solid play and they became the darlings on Wall Street. Now the subprime lending world is going full tilt in the opposite direction. The risks these borrowers posed were greater than anyone could’ve possibly imagined. With loan defaults en masse, these lenders are going bust!

The problem with going full tilt is that being aggressive just can’t be sustained for long periods of time. It’s true in poker and in lending.

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Tagged with: denver • lending • mortgage • prime • Subprime

Filed under: mortgage

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