- Thread starter
- #41
Guidelines for buying homes has been around for several decades:
*10%-20% down
* Gainfully employed
* loans were not more than twice the income
* credit history examined
* Employee status verified as well as income
* credit score meets demand
* 30-45 days minimum closing period
* Fraud will not be considered to move the process forward
Perhaps there has not been a need for more regulations.
Regulations for home loans are probably fine. Just not enforced enough. Regulations for derivatives, however, are severely lacking. And it was derivatives which were the cause of the global credit crisis.
Ditto ditto