Comments on: ‘Wear a wire.’ http://www.redstate.com/moe_lane/2009/07/13/wear-a-wire/ Wed, 15 Feb 2012 16:57:03 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: GreyCloak http://www.redstate.com/moe_lane/2009/07/13/wear-a-wire/comment-page-1/#comment-18958 GreyCloak Tue, 14 Jul 2009 10:01:38 +0000 http://www.redstate.com/moe_lane/?p=3655#comment-18958 I called up GMAC Mortgage a coupla years ago to lower my interest rate ... they processed the whole thing and printed off dozens of pages of "new" loan agreement almost overnight. Fortunately, I declined several $thousands in "closing fees" and paid the whole thing off within two years, saving a bunch of money. Barney Frank was on <i>The Daily Show</i> Monday night: he claimed Congress didn't really encourage "<u>home</u> ownership" ... they <i>really</i> meant to encourage lenders to fund mortgages for Section 8 (subsidized <i>rental</i>) housing! Even Jon Stewart provided quotes that proved the contrary! EVERYbody who attends a Treasury/HUD or any other government meeting ought to wear a wire! Mortgage companies protest too much, but the Congress they have bought and paid for (through influence on HUD and Treasury) will do anything to keep the contributions flowing. Lenders and borrowers beware! I called up GMAC Mortgage a coupla years ago to lower my interest rate … they processed the whole thing and printed off dozens of pages of “new” loan agreement almost overnight. Fortunately, I declined several $thousands in “closing fees” and paid the whole thing off within two years, saving a bunch of money.

Barney Frank was on The Daily Show Monday night: he claimed Congress didn’t really encourage “home ownership” … they really meant to encourage lenders to fund mortgages for Section 8 (subsidized rental) housing! Even Jon Stewart provided quotes that proved the contrary!

EVERYbody who attends a Treasury/HUD or any other government meeting ought to wear a wire!

Mortgage companies protest too much, but the Congress they have bought and paid for (through influence on HUD and Treasury) will do anything to keep the contributions flowing. Lenders and borrowers beware!

]]> By: antisocial http://www.redstate.com/moe_lane/2009/07/13/wear-a-wire/comment-page-1/#comment-18957 antisocial Tue, 14 Jul 2009 04:48:56 +0000 http://www.redstate.com/moe_lane/?p=3655#comment-18957 and he was ridiculed for it..... Note I am not a big fan of this maverick... just that I find it interesting Obama administration might reach the same conclusion. and he was ridiculed for it….. Note I am not a big fan of this maverick… just that I find it interesting Obama administration might reach the same conclusion.

]]> By: carlsbadd http://www.redstate.com/moe_lane/2009/07/13/wear-a-wire/comment-page-1/#comment-18955 carlsbadd Tue, 14 Jul 2009 03:48:22 +0000 http://www.redstate.com/moe_lane/?p=3655#comment-18955 I gotta tell you guys that the mortgage industry was the wild, wild west during the last 5 years (well until late 2006 anyway )and the Government still can't get it right, Fannie mae and Freddie mac could not stand losing market share to the secondary market and decided to join in the fray, prompted by the likes of those in the government who encouraged home ownership The government has a love/hate relationship with the mortgage industry, placing more restrictions that ever, all the while encouraging more lending. The crux of the whole economy is that there is no real disposal of these toxic assets, either the earthquake has to hit or not, no stimulus package , bank bailout or foreclosure relief will do a lick of good until this is addressed. Much like the SNL crisis of the 1980's it would be best to take these assets, pool them, and sell them off, the Resolution trust corporation (RTC) was a very successful agency and one of the few government agencies that did it's job and exited the stage I gotta tell you guys that the mortgage industry was the wild, wild west during the last 5 years (well until late 2006 anyway )and the Government still can’t get it right,
Fannie mae and Freddie mac could not stand losing market share to the secondary market and decided to join in the fray, prompted by the likes of those in the government who encouraged home ownership

The government has a love/hate relationship with the mortgage industry, placing more restrictions that ever, all the while encouraging more lending.

The crux of the whole economy is that there is no real disposal of these toxic assets, either the earthquake has to hit or not, no stimulus package , bank bailout or foreclosure relief will do a lick of good until this is addressed.

Much like the SNL crisis of the 1980′s it would be best to take these assets, pool them, and sell them off, the Resolution trust corporation (RTC) was a very successful agency and one of the few government agencies that did it’s job and exited the stage

]]> By: Vegas_Rick http://www.redstate.com/moe_lane/2009/07/13/wear-a-wire/comment-page-1/#comment-18954 Vegas_Rick Tue, 14 Jul 2009 03:28:10 +0000 http://www.redstate.com/moe_lane/?p=3655#comment-18954 By the way, you do great work, Moe! By the way, you do great work, Moe!

]]> By: bobojake http://www.redstate.com/moe_lane/2009/07/13/wear-a-wire/comment-page-1/#comment-18953 bobojake Tue, 14 Jul 2009 02:29:42 +0000 http://www.redstate.com/moe_lane/?p=3655#comment-18953 It time to stop the obama train. Call your Senators and congressman and let them know the voters/taxpayers are not putting up with obamas foney fraudulent methods. It time to stop the obama train.
Call your Senators and congressman and let them know the voters/taxpayers are not putting up with obamas foney fraudulent methods.

]]> By: bk http://www.redstate.com/moe_lane/2009/07/13/wear-a-wire/comment-page-1/#comment-18952 bk Tue, 14 Jul 2009 02:26:44 +0000 http://www.redstate.com/moe_lane/?p=3655#comment-18952 It *is* about a set of RICO type goons however. It *is* about a set of RICO type goons however.

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