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The New DU. Reply #18: You did not even read it
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sandnsea
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Wed Oct-08-08 04:38 PM
Response to Reply #15 |
| 18. You did not even read it |
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Because it wasn't just about poor minorities. The CRA could be replaced by any excuse to blame the homeowners instead of the mortgage companies and brokers. Nobody made these financial titans create these shoddy mortgages.
"The CRA didn't force mortgage companies to offer loans for no-money down, or to throw underwriting standards out the window, or to encourage mortgage brokers to aggressively seek out new markets. Nor did the CRA force the credit-rating agencies to slap high-grade ratings on subprime debt.
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