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It is a little hard to drift away from this corrupt administration that is right here in your face. Good try though.
The election of President Obama has driven many conservatives insane. They can't think straight. conservatives are taking political disputes that they are creating mostly with the President and saying this is an impeachable offense.
By my count according to conservatives the President has done at least a dozen things that in their delusions raise to the level of impeachable offense. LOL
Well do it. Please conservatives attempt to impeach this President over fantasy crimes you think he has committed.
Perhaps you and I are discussing different things.
What, precisely, do you mean by "stated"?
Non-income verification. Instead of verifying income with W2's, Tax Returns, paystubs, the income needed to qualify was simply stated on the mortgage application.
The election of President Obama has driven many conservatives insane. They can't think straight. conservatives are taking political disputes that they are creating mostly with the President and saying this is an impeachable offense.
By my count according to conservatives the President has done at least a dozen things that in their delusions raise to the level of impeachable offense. LOL
Well do it. Please conservatives attempt to impeach this President over fantasy crimes you think he has committed.
Ad hominem.
More of the "disagreement with a liberal is evidence of being evil" nonsense they spew.
Non-income verification. Instead of verifying income with W2's, Tax Returns, paystubs, the income needed to qualify was simply stated on the mortgage application.
I thought you meant the ones where third parties fraudulently pushed stuff into Fannie and Freddie by totally fabricating the application.
My M-I-L got one of those, but long before this became an issue. She also defaulted on it.
The election of President Obama has driven many conservatives insane. They can't think straight. conservatives are taking political disputes that they are creating mostly with the President and saying this is an impeachable offense.
By my count according to conservatives the President has done at least a dozen things that in their delusions raise to the level of impeachable offense. LOL
Well do it. Please conservatives attempt to impeach this President over fantasy crimes you think he has committed.
The problem with that is that it would put further stress on our country. Better to discredit him to the point he has no more power. That has pretty much been done. What are his poll numbers at right now? 37 and seem to be going down at about 2% a week. I know you want your delusion to be true; however, the facts say otherwise. Of course if the next senate is controlled by Republicans, who knows??
Crimes are not a fantasy. Our taxpayers are paying for them every day. Too bad more people are collecting than paying.
More of the "disagreement with a liberal is evidence of being evil" nonsense they spew.
Disagreement is normal, fantasy clap trap is insane. Again, the idea that this President has broken the law is a conservative delusion based on insane conspiracy theories.
Disagreement is normal, fantasy clap trap is insane. Again, the idea that this President has broken the law is a conservative delusion based on insane conspiracy theories.
No, it's fact. I'd love to see you debate Gowdy on this.
Different dynamics. After the crash it turned so far the other direction that those with average, but not stellar credit couldn't get a loan. The changes aren't giving people with awful credit loans. Aside from that, they still need to meet the income requirements.
The crash really didn't occur because people with a few bumps in their credit were able to obtain loans. those with absolutely brutal credit were able to obtain mortgages, these changes do not go back to that. On top of that a major reason you had people with incomes that could not possibly sustain the mortgage payments getting loans through the stated programs, no doc programs, the negative amortization programs. The proposed changes do not bring any of that stuff back. None of those programs were mandated by the lawsuit from the 1990's, and those programs really only took off in 2003 and were an ever growing part of the market from 2003 to the crash.
That goes to show you that if you are going to borrow money you should always pay it on time, you should also keep your debt to income ratio below requirement and credit wouldn't be an issue. No one wants to someone who "might" pay it back or who makes a promise but doesn't keep to their promise. Why would you expect otherwise. Being able to borrow money is not a right just because you can steam a mirror.
I thought you meant the ones where third parties fraudulently pushed stuff into Fannie and Freddie by totally fabricating the application.
My M-I-L got one of those, but long before this became an issue. She also defaulted on it.
That was part of it also, but happened after the fact. The banks created these horrible loans that they knew were crap and sold them off in bundles to third parties, At times the third parties knew they were getting crap, at other times they didn't. The third parties then bundled those crap loans to Fannie and Freddie. At times they knew they were pushing Fannie and Freddie crap loans and misrepresented them, at other times they pushed Fannie and Freddie crap loans they believed were legit.
Regardless, these loans were utter crap and they were created by the banks themselves, not from the government or out of a lawsuit. These loans weren't exactly knew to the market (the option arm's for example date back to the 80's), however they only made up a very small segment of the market until 2003 and peaked from late 2005 to early 2007. In other cases the loans were used in ways they were never designed to. The stated loans for example were typically used for self-employed borrowers who made more $$ than they showed on their returns, but had a bunch of write offs. However, starting in 2003 it basically expanded to your everday W2 borrower to simply lie about how much $$$ they made in order to qualify.
This is what the Obama administration wants. This gives them a reason to crush/imprison all who disagree with them and impose martial law/collect firearms, etc. The sides of the square that you and I stand in and refer to as our liberties and freedoms are slowly being pushed in. And this administration and its adherents are going to continue to push in the sides until we can no longer step anywhere, constitution be damned.
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