(Bloomberg) -- Taher Afghani was working for discount
retailer Target Corp. near San Francisco when friends told him about
the riches to be made in California's Mortgage Alley.
It was 2004, and the U.S. real estate market was on fire. Down
in Southern California, a hub for lenders specializing in loans to
people with weak, or subprime, credit, Afghani's pals were making a
fortune pushing risky mortgages on homebuyers. After tagging along
with a buddy on a company trip to Los Cabos, Mexico, Afghani quit
Target, headed south and began hustling loans at Costa Mesa-based
Secured Funding Corp.
Read more at Bloomberg Exclusive News
retailer Target Corp. near San Francisco when friends told him about
the riches to be made in California's Mortgage Alley.
It was 2004, and the U.S. real estate market was on fire. Down
in Southern California, a hub for lenders specializing in loans to
people with weak, or subprime, credit, Afghani's pals were making a
fortune pushing risky mortgages on homebuyers. After tagging along
with a buddy on a company trip to Los Cabos, Mexico, Afghani quit
Target, headed south and began hustling loans at Costa Mesa-based
Secured Funding Corp.
Read more at Bloomberg Exclusive News
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