There is no common sense left.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aTu9HA5cZgQ4
Quote:
Feb. 5 (Bloomberg) — Fannie Mae, the mortgage-finance company under U.S. government control, will loosen rules for homeowners seeking to lower their loan payments by refinancing.Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company’s Web site. The changes apply to loans that the company owns or guarantees.
The default rates from this ought to be interesting… actually, more along the lines of “I told you so”.
Sluf
Moe Lane
Neil Stevens
Daniel Horowitz
Steve Maley
Blame the Dems
Sunnie57 Sunday, February 8th at 8:14PM EST (link)The Dems forced banks to loan to people who couldn’t pay them back which caused the financial crisis, but the Republicans got blamed because we had a Republican POTUS.
Now Freddie and Fannie want to further hurt the economy????
I’m sure the Dems will be 100% behind this, too.
Our legislators suffer from "Selective Senility"
Praying (Diary) Sunday, February 8th at 8:49PM EST (link)It’s bad enough that they can’t seem to look back 80 years in history and realize that New Deal type stimulus packages don’t work (and this one is only about 20% real New Deal type stimulus – the rest is funding to support the radical leftist agenda). But you would think that they could at least look back what, 5 years?? Are they so in DENIAL? This has to be a joke, right?
No!!!11!1!!1!1! The Bilderbergers are coming