handling the previous housing crisis, they had all the answers.
This is their opportunity to shine.
It should be NO PROBLEM.
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handling the previous housing crisis, they had all the answers.
This is their opportunity to shine.
It should be NO PROBLEM.
As for the 3% - that's an FHA loan. I only put 3% down for my house. When I was married, we had a VA loan with nothing down.
coming home with no jobs do you think will get to purchase homes? Under the 'new' FM/FM rules, (a repeat of 1992 standards) quite a few of them. But how many unqualified people will also qualify under these same rules will qualify with only 3% down...........huge numbers. And I don't see anything in the rules that limits them to FHA loans...
>>>Wallison points out that government regulators are once again reducing the credit standards for mortgage seekers. The argument, as in the 1990s and 2000s, is that traditional standards are misleading and unduly prevent low-income and minority households from buying homes.
Fannie and Freddie are now purchasing the large majority of mortgages and announced last month they would buy mortgages with only 3 percent down payments. The qualified mortgage standards laid down by HUD and other regulators in October allowed for mortgages with zero down payments.>>>
So now instead of just 'backing' the loans, FM. and FM are in the 'purchasing' business instead.....and when they are defaulted on (and this WILL happen again), those two agencies will be looking for a third bailout on the backs of taxpayers.
And...NO.....Republicans do not want to do away with ALL of the regulations....ONLY a handful of the Dodd/Frank bill regulations that are hurtful rather than helpful to the economy.
risky bets and depend on the tax payer to bail them out again?
(making) the banks do it again, right now. Republicans have nothing to do with that one, Diana.....this is all on BO and his Treasury Dept and FM/FM.
a lot of Dodd-Frank as an amendment on the last budget and did it so close to the budget date that it couldn't be argued without shutting the government down.
because there were Dems and the Fed itself (under BO rule) that agreed....that's how it was passed, Diana..... BO's Dems had plenty of opportunities, especially during the last two years, to change things and didn't because as long as the Feds kept pumping $83B each month into Wall Street and kept interest rates down to near zero, their own Wall Street cronies/lobbyists were also kept happy.
You can't blame this on the Republicans for actually doing what Dems have been actually wanting to do for quite a while now.....many of them knew that Dodd/Frank was a joke and strictly an 'on paper' political move to make their party 'look' like they were doing something when enforcement of what that law was 'supposed' to do was as non-existent as BO's immigration policies.
http://www.nakedcapitalism.com/2015/01/the-feds-and-republicans-war-against-dodd-frank.html