Govt to the Rescue

[Manonthestreet]

How much will it cost this time?

This Is The Worst Possible Time For The FHFA To Mess With Lending Standards

It is astonishing that the lessons of the ’08 crash have seemingly been so easily forgotten.

issuesinsights.com

Despite this historically recent example of the havoc that can be wrought by altering the standards of a $10 trillion industry, the FHFA is still weighing whether to allow an unproven scoring model owned by credit bureaus to be used in mortgages underwritten by Fannie Mae and Freddie Mac.

 

[EvilEyeFleegle]

How much will it cost this time?

This Is The Worst Possible Time For The FHFA To Mess With Lending Standards

It is astonishing that the lessons of the ’08 crash have seemingly been so easily forgotten.

issuesinsights.com

Despite this historically recent example of the havoc that can be wrought by altering the standards of a $10 trillion industry, the FHFA is still weighing whether to allow an unproven scoring model owned by credit bureaus to be used in mortgages underwritten by Fannie Mae and Freddie Mac.

Gist appears to be change bad...we're making money now...just the way it is.

Appears to loosen the requirements a bit...with the min. FICO score dropping--for the favorable rate, is this bad? Dunno, but i do know that it's not another Sub-prime disaster..and the trade of derivatives is what fueled the 2008 crisis---and that's come to a screeching halt.

FHA Loan Requirements in 2023

www.fha.com

 

[Manonthestreet]

Gist appears to be change bad...we're making money now...just the way it is.

Appears to loosen the requirements a bit...with the min. FICO score dropping--for the favorable rate, is this bad? Dunno, but i do know that it's not another Sub-prime disaster..and the trade of derivatives is what fueled the 2008 crisis---and that's come to a screeching halt.

FHA Loan Requirements in 2023

www.fha.com

Seems like gift to banks......helping people into homes they cant afford in a huge downturn probably wont end well

 

[EvilEyeFleegle]

Seems like gift to banks......helping people into homes they cant afford in a huge downturn probably wont end well

Some win some lose...it's all about giving a chance--the rest is up to the individual.

 

[Vastator]

Enjoy the decline! It's gonna be a hoot for those who saw it coming...

 

[SassyIrishLass]

Some win some lose...it's all about giving a chance--the rest is up to the individual.

Yeah that's what caused 2008

 

[Harpy Eagle]

Yeah that's what caused 2008

Not really. It was much less about the individual and far more about the banks

 

[SassyIrishLass]

Not really. It was much less about the individual and far more about the banks

Oh BS it was about Clinton and his Community Reinvestment Act.

Just stop with your fcking nonsense

 

[EvilEyeFleegle]

Yeah that's what caused 2008

Speculative trading in derivatives, coupled with banks lending far more than they should have, in an attempt to fuel the aforementioned trading--are what caused the crash. Yes, the market had become too loose..but that was deliberate in an attempt to manufacture opportunity for speculative success.

 

[Harpy Eagle]

Oh BS it was about Clinton and his Community Reinvestment Act.

Just stop with your fcking nonsense

poor child. You are so fucking uninformed.

 

[SassyIrishLass]

poor child. You are so fucking uninformed.

No you are and you prance around like you think you're not. Gfy ya damn leftist loon

 

[Harpy Eagle]

No you are and you prance around like you think you're not. Gfy ya damn leftist loon

poor child.

 

[Harpy Eagle]

Speculative trading in derivatives

you should not use such big words when replying to sassy, they are way over her head

 

[SassyIrishLass]

you should not use such big words when replying to sassy, they are way over her head

You should stop thinking I take you and the other left loon seriously. That's your problem.

Now run along, both of you leftist frauds

 

[Harpy Eagle]

You should stop thinking I take you and the other left loon seriously. That's your problem.

Now run along, both of you leftist frauds

Yet here you are replying to people trying to educate you.

You actually think it was the individual mortgage holder that was the cause of the crash...that is akin to thinking the moon is made out of cheese.

 

[SassyIrishLass]

Yet here you are replying to people trying to educate you.

You actually think it was the individual mortgage holder that was the cause of the crash...that is akin to thinking the moon is made out of cheese.

I said run along, limp wrist

 

[Harpy Eagle]

I said run along, limp wrist

I do not give a fuck what you said. I do not take orders from ignorant children.

 

[Smokin' OP]

No you are and you prance around like you think you're not. Gfy ya damn leftist loon

Carter, is the one who signed the community reinvestment act, in 1977.
Not only "sassy" but dumb, typical republican...........

 

[SassyIrishLass]

Carter, is the one who signed the community reinvestment act, in 1977.
Not only "sassy" but dumb, typical republican...........

Get info you little pip squeak

25 People to Blame for the Financial Crisis - TIME

President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of...

content.time.com

 

[SassyIrishLass]

Get info you little pip squeak

25 People to Blame for the Financial Crisis - TIME

President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of...

content.time.com

Funny doesn't change anything, Clinton weaponized the act, Bush warned Congress things were going to implode and guess what, they did

Good gawd this is taught in economics