tag:blogger.com,1999:blog-20831551.post1055737320346030119..comments2019-09-16T08:31:33.174-01:00Comments on National Sponsor: Who is to Blame for the Sub-Prime Financial Crisis?National Sponsorhttp://www.blogger.com/profile/14892985741628977976noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-20831551.post-15997115473841519002011-10-17T16:52:04.614-01:002011-10-17T16:52:04.614-01:00Alright, so I was able to watch the video and I co...Alright, so I was able to watch the video and I could find no evidence that the ADDI had a role is loosening guidelines other than providing assistance to low income borrowers. <br /><br />http://www.hud.gov/offices/cpd/affordablehousing/programs/home/addi/<br /><br />All evidence point to this guy as liar and probably worse:<br /><br />http://www.youtube.com/watch?v=4fKpBPRKbvQ&feature=relatedNational Sponsorhttps://www.blogger.com/profile/14892985741628977976noreply@blogger.comtag:blogger.com,1999:blog-20831551.post-53026916921639280742011-10-17T13:59:15.829-01:002011-10-17T13:59:15.829-01:00Thanks for the input Squeakywheel. I will have to...Thanks for the input Squeakywheel. I will have to check out the new information and update the blog as necessary. I appreciate the feedback.<br /><br />Big fan of the supporting videos.National Sponsorhttps://www.blogger.com/profile/14892985741628977976noreply@blogger.comtag:blogger.com,1999:blog-20831551.post-27521200969396536532011-10-17T07:39:27.932-01:002011-10-17T07:39:27.932-01:00I failed to mention one thing in my previous comme...I failed to mention one thing in my previous comments. There was a bill in the US Senate which would have reeled in Fannie and Freddie, but Freddie's administrator had paid a lobbyist to target 17 republican senators to vote against the bill. This is the bill that John McCain referred to during the 2008 presidential campaign. Those 17 senators included the chairman of the committee, Bill Frist. Frist was determined not to let the bill get out of committee. Thus, Fannie and Freddie continued their loose lending standards and people who should never have been allowed to buy a home were now in homes they couldn't pay for.squeakywheelhttps://www.blogger.com/profile/05897391805859657247noreply@blogger.comtag:blogger.com,1999:blog-20831551.post-43014950338329148522011-10-17T07:20:39.433-01:002011-10-17T07:20:39.433-01:00You left out an important date.
May 17, 2002 Georg...You left out an important date.<br />May 17, 2002 George W Bush introduces his "Homeownership Plan" and the fact that he asked Fannie and Freddie to loosen their lending standards so that people with no down payment or bad credit could enjoy being homeowners. Thus, the "stated income" or as we in the real estate industry called them "liars loans" were born.<br /><br />Barney Frank nor Chris Dodd who were in the minority party at the time had absolutely nothing to do with the housing crisis.<br /><br />http://www.youtube.com/watch?v=kNqQx7sjoS8squeakywheelhttps://www.blogger.com/profile/05897391805859657247noreply@blogger.comtag:blogger.com,1999:blog-20831551.post-3348931538460006912011-10-17T07:11:24.387-01:002011-10-17T07:11:24.387-01:00You seem to have left out an important event. On ...You seem to have left out an important event. On May 17, 2002 George W Bush announced his "Home Ownership Plan" which allowed those with no down payment or bad credit to get loans. In order to achieve this, he got Fannie Mae and Freddie Mac to loosen their lending standards. Thus, the "stated income" loans were born. In the real estate industry, we called them "liar loans".<br /><br />http://www.youtube.com/watch?v=kNqQx7sjoS8squeakywheelhttps://www.blogger.com/profile/05897391805859657247noreply@blogger.com