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In reply to the discussion: Obama administration pushes banks to make home loans to people with weaker credit [View all]magellan
(13,257 posts)61. Also the "CRA did it" crowd
Mostly found on the low-information right.
The majority of toxic loans were written by lenders who enjoyed little federal oversight and weren't subject to the CRA. And no one in government forced those lenders to write bad loans, just as no one, not even PO, has been able to force them to start writing risky loans again.
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Obama administration pushes banks to make home loans to people with weaker credit [View all]
alp227
Apr 2013
OP
I don't think we have in the sense of making sure the bail out money reached main street...
midnight
Apr 2013
#31
As I understand it, the percentage of mortgages that were sub-prime had soared to historic
Flatulo
Apr 2013
#25
Please read #88 - an explosion in lending, this Reuters article specific to subprime auto loans n/t
progree
Apr 2013
#89
Auto and residential mortgages are completely different sectors of the economy.
geek tragedy
Apr 2013
#90
I know, but the article mentions subprime mortgage securities as another mini-bubble, although just
progree
Apr 2013
#91
The Fine Print: What The Street doesn't like is the facility to refinance existing mortgages
denem
Apr 2013
#18
If you can't afford it, real estate is the riskiest investment you can make because its leveraged.
dkf
Apr 2013
#27
You can tell the lenders that at your next mortgage application...........I'm sure they will listen
lunasun
Apr 2013
#57
FICO has nothing to do with income. They check both your FICO credit score
geek tragedy
Apr 2013
#59
A FICO score of about 520 is generally the minimum that will qualify for a mortgage
lunasun
Apr 2013
#64
The lenders own the homes untill they are paid off. Why aren't the lenders paying the property tax??
Sunlei
Apr 2013
#49
Knives allowed on planes, banks urged to make loans to people with weak credit...
forestpath
Apr 2013
#85