countrywide home loans
Question by Chi Guy: Can anyone provide a link to the aledged Dem regulation that forced Countrywide Home loans to give mortgages?
…to people that could not afford them?
Please prove me wrong by providing such a link. I actually LOVE being proved wrong.
Also, if you canNOT provide the evidence, will you stop parroting the Faux News assertion?
BTW, Countrywide went belly up due to bad mortgages and was bought out by Bank of America.
es.erwin (below) Kudos for at least linking the right category. Unfortunately it does NOT apply to my post. As a matter offact take a look at this from your link:
Enforcement in Lending Matters
The FTC recognizes that it is important for all consumers, including those in lower-income communities or those with less-than-perfect credit, to have reasonable access to capital. The growth of the subprime mortgage industry has enabled many consumers to obtain loans, who previously had very limited access to credit. It is also important, however, that the consumers’ increased access to capital not be burdened by deceptive or other unlawful lending practices. Such practices disrupt the proper functioning of the credit market and most likely violate the FTC Act, TILA, or HOEPA. Such violations must not be tolerated by consumers, the government and, I would suggest, your industry. The Commission has taken a variety of actions to address reported abuses in the subprime credit market.
as.erwin (below) Speeches are NOT regulations.
Speeches do not FORCE lending. I am still waiting for a link to the so-called REGULATION(S) that aledgedly forced Countrywide to take bad mortgages.
notagain (below) Thanks for the op-ed. Please answer the post directly.
ritchwil… (below) So a civil lawsuit is the Dem regulation that forced Countrywide to take bad mortgages?
Best answer:
Answer by deacon666smirk
The evidence is real and tangible, but as it’s stored up Rush Limbaugh’s a**, NO ONE wants to go there.
What do you think? Answer below!