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3 Responses to “Thursday Headlines: Fannie, Freddie set low-income housing goals”
The Fannie/Freddie NYT article you include today is helpful BUT for a retired banker it would be More helpful to include key underwriting minimums today as compared to, say, ’07 and ’10. A chart of key Borrower minimums that led to the crash. The changes made after the crash. Thus how underwriting demands may have loosened since’10, etc.
Quotas only tell a sliver of the story. Dig a little deeper for us who know Washington’s huge role in the Fannie/Freddie demands that opened the gates that precipitated to the crash that would never have happened if Barney F and his cronies had not made all their demands regarding “everyone should have opportunity to own his own home”!
Thanks for caring!
OK!!a0 I will be the first to admit!a0 I didn’t think that the Home Affordable Refinance Program in Arizona and California was actually going to work. Lets face it, most times when our pilctiioans get involved things just
i agree with the sentiments riragdeng consumer responsibility, but the real cause of the collapse was the use of mortgages as financial instruments (derivatives etc)to be traded for profit by the wall street financiers. Yes there was excesses by the consumers but the excesses of the financial industry (bankers and stockbrokers) remain at the heart of the problem. Their mistakes are mistakes of the billions and trillions and their greed drives the storm that sweeps up the consumer. Reform is needed but lets do it where the problem lies and not close of the potential for home ownership to the average member of the middle class.
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