Obama Orders Same Policy That Sparked Mortgage Meltdown
Great. Just as soon as the market is starting to have a little light he has to go and do this.
Check it out:
Undaunted by the housing market collapse that crashed mortgage banks, cut the rug from underneath homeowner equity and slammed taxpayers for billions in bad loans, the Obama administration now has launched a major push for banks to hand out mortgages to those with “weaker credit,” including some on public assistance.
Edward Pinto, a former top executive at Fannie Mae, now with the American Enterprise Institute, confirmed to WND the government’s adoption of a strategy that requires banks to lend to less qualified borrowers or face discrimination complaints.
Just like before.
He is outraged, as are other housing industry experts and economists.