here we go: Trump’s first housing move tanks mortgage applications 3.2%

[thereisnospoon]

Obama waded into FHA and cut the mortgage insurance premium. Trump wants time to examine the FHA program which is a reasonable thing to do, especially given that the crash of 2008 was attributed directly to under-qualified buyers getting mortgages and then defaulting in large numbers.
Trump already suspends Obama-era FHA mortgage insurance cut

The last part is false. The market crashed because of the mortgage bundles falling in value, then home owners defaulting because they lost their jobs.

Stop the Alternate Right Alternate Factoids please.

Horse shit. The fannie/freddie mess was the doingof the then Democrat controlled congress. One that insisted the program was fine.
One thing you lefties conveniently forget is the fannie/freddie system came with a bunch of rules that in return for banks being FORCED to make high risk loans, the government not only guaranteed them, but the SEC and others made the rules that allowed these mortgages to be sold, packaged into securities then repackaged into other investment vehicles.
Now, granted, the financial institutions trading these so called mortgage backed securities went on a shark infested waters feeding frenzy. Like the members of Congress who never looked into the possible pitfalls of the Fannie/Freddie program, the financial people never bothered to set up safety measures in case of an extreme event or series of events that caused a mass default on the loans.

 

[Care4all]

Obama waded into FHA and cut the mortgage insurance premium. Trump wants time to examine the FHA program which is a reasonable thing to do, especially given that the crash of 2008 was attributed directly to under-qualified buyers getting mortgages and then defaulting in large numbers.
Trump already suspends Obama-era FHA mortgage insurance cut

why would he change something he hadn't had enough time to examine yet?

What makes you think he hadn't had enough time to examine it?

READ Mike's post, what I put in bold, that I was responding to!

 

[thereisnospoon]

And the Alt Right obstructions are all for hurting home buyers.

You know better than that, spoon.

Oh please.
Thanks for the left wing talking points.

 

[JakeStarkey]

" The fannie/freddie mess was the doing of the then Democrat controlled congress" is wrong.

Fannie and Freddie were the mess of the GOP majority Congress from 1994 to 2006 right along with complacent presidents and several Democratic congressional honchos.

To blame it solely on Dems reveals a confirmation bias that the facts do not support.

The far right obstructionist talking points are dismissed as garbage.

 

[Compost]

Fewer people shop for houses in the winter. Naturally then, fewer people apply for mortgages in the winter.

From the article in the OP, shit for brains;

Total mortgage applications fell 3.2 percent on a seasonally adjusted basis from the previous week, according to the Mortgage Bankers Association. Volume was 18 percent lower than the same week one year ago.

Those were seasonally adjusted week over and year over percentages and the former followed a Trump policy change. Where are your fucking data to back up your bogus bullshit?

Also from the OP article you didn't fucking read was this, dimwit;

Most notable was a 13 percent drop in FHA applications — a direct result of the Trump administration reversing a cut in the FHA's annual mortgage insurance premium just hours after the inauguration.

How are you going to blame that on the winter, dummy!

Thank you for the quote from the article. Never mind that you could have, like a sane adult would, offered that when I originally remarked about it. Anywhoooooo, don't let me keep you. Carry on with your celebration that Trump is ruining everything after a mere week and a half on the job. Bye bye now, snowflake.

 

[BrokeLoser]

Trump's people have put the FHA on hold, and mortgages dropped 3.2% because of the hold on government-insured loans. Will they put VA loans on hold as well. And volume dropped 18% from the same week the year before. This occured as "a direct result of the Trump administration reversing a cut in the FHA's annual mortgage insurance premium just hours after the inauguration", ending the "the last major policy act of the Obama administration and would have decreased monthly payments for thousands of new, lower-income borrowers"

The result obviously must the desire of Trump's people to have home owners pay higher interest rates to the banks.

Trump’s first housing move tanks mortgage applications 3.2%

Such evil people.

Wow, sworn in on Friday and the market responds to Trump by Monday. To think that after 8 years you still blame Bush for everything in the economy.

Go drink your coffee and wake up. Yes, markets respond to stupid admin actions.

Yet 8 years later nothing about the economy is the responsibility of Obama.

He's a black Muslim...nothing negative could ever be his responsibility...if you claim it is you're a bigot....hahaha

 

[JakeStarkey]

Trump's people have put the FHA on hold, and mortgages dropped 3.2% because of the hold on government-insured loans. Will they put VA loans on hold as well. And volume dropped 18% from the same week the year before. This occured as "a direct result of the Trump administration reversing a cut in the FHA's annual mortgage insurance premium just hours after the inauguration", ending the "the last major policy act of the Obama administration and would have decreased monthly payments for thousands of new, lower-income borrowers"

The result obviously must the desire of Trump's people to have home owners pay higher interest rates to the banks.

Trump’s first housing move tanks mortgage applications 3.2%

Such evil people.

Wow, sworn in on Friday and the market responds to Trump by Monday. To think that after 8 years you still blame Bush for everything in the economy.

Go drink your coffee and wake up. Yes, markets respond to stupid admin actions.

Yet 8 years later nothing about the economy is the responsibility of Obama.

He's a black Muslim...nothing negative could ever be his responsibility...if you claim it is you're a bigot....hahaha

Anyone who truly believes that Obama is a Muslim is truly deranged.

 

[Care4all]

Obama waded into FHA and cut the mortgage insurance premium. Trump wants time to examine the FHA program which is a reasonable thing to do, especially given that the crash of 2008 was attributed directly to under-qualified buyers getting mortgages and then defaulting in large numbers.
Trump already suspends Obama-era FHA mortgage insurance cut

The last part is false. The market crashed because of the mortgage bundles falling in value, then home owners defaulting because they lost their jobs.

Stop the Alternate Right Alternate Factoids please.

Horse shit. The fannie/freddie mess was the doingof the then Democrat controlled congress. One that insisted the program was fine.
One thing you lefties conveniently forget is the fannie/freddie system came with a bunch of rules that in return for banks being FORCED to make high risk loans, the government not only guaranteed them, but the SEC and others made the rules that allowed these mortgages to be sold, packaged into securities then repackaged into other investment vehicles.
Now, granted, the financial institutions trading these so called mortgage backed securities went on a shark infested waters feeding frenzy. Like the members of Congress who never looked into the possible pitfalls of the Fannie/Freddie program, the financial people never bothered to set up safety measures in case of an extreme event or series of events that caused a mass default on the loans.

FYI the famous Barney Frank's video, Barney was in the MINORITY when he made it....there was NOTHING that barney Franks could say or do, to stop the MAJORITY, the REPUBLICANS in control, from doing something.

Republicans chose NOT to do anything, even though Senator Hagel introduced a bill to reign fanny and freddie in, because Freddie Mac LOBBIED REPUBLICANS with tons of money, to prevent Hagel's bill from even having a vote on the Senate floor....that was REPUBLICANS in the majority, KILLING the legislation to reign FANNIE and FREDDIE in.

 

[JakeStarkey]

^^^ That, obstructionists

 

[thereisnospoon]

Trump's people have put the FHA on hold, and mortgages dropped 3.2% because of the hold on government-insured loans. Will they put VA loans on hold as well. And volume dropped 18% from the same week the year before. This occured as "a direct result of the Trump administration reversing a cut in the FHA's annual mortgage insurance premium just hours after the inauguration", ending the "the last major policy act of the Obama administration and would have decreased monthly payments for thousands of new, lower-income borrowers"

The result obviously must the desire of Trump's people to have home owners pay higher interest rates to the banks.

Trump’s first housing move tanks mortgage applications 3.2%

Such evil people.

/---- Meanwhile in totally unrelated news: Dateline New York City. City tax bid hits home

You think your money is yours, but New York City Deputy Mayor Alicia Glen begs to differ.

City Hall wants a new “mansion tax” of 2.5 percent on any house sale above $2 million. Asked if she thought the tax might crimp sales, Glen told the Wall Street Journal the criticism is ridiculous and added, “If you look at how much money we’ve left on the table for the past two years while this thing went sideways, it makes me nuts.”

Yeah.."Money left on the table".....Funny. While Bush 43 was in office the dems railed about deficit spending. When Obama was in office,., for a very short time, Barney Frank siad. "we have to get over our fear of deficit spending"....And he also made a statement for which I do not have a direct quote, but when like this....We have to increase taxes. There are a lot of wealthy people we can recover this money from.
all these lefties can think of is ways to grab more of our money....
Now here is the irony of ironies. These same people the City wants to tax are those wealthy people that consistently vote for liberal politicians and fund their campaigns....

 

[toomuchtime_]

And the Alt Right obstructions are all for hurting home buyers.

You know better than that, spoon.

Actually the increase in mortgage application

" The fannie/freddie mess was the doing of the then Democrat controlled congress" is wrong.

Fannie and Freddie were the mess of the GOP majority Congress from 1994 to 2006 right along with complacent presidents and several Democratic congressional honchos.

To blame it solely on Dems reveals a confirmation bias that the facts do not support.

The far right obstructionist talking points are dismissed as garbage.

Actually, it's Obama/Castro's fee cut that is being dismissed as trash. Some one has to protect the American people against Obama's irresponsible political gestures.

 

[thereisnospoon]

Obama waded into FHA and cut the mortgage insurance premium. Trump wants time to examine the FHA program which is a reasonable thing to do, especially given that the crash of 2008 was attributed directly to under-qualified buyers getting mortgages and then defaulting in large numbers.
Trump already suspends Obama-era FHA mortgage insurance cut

The last part is false. The market crashed because of the mortgage bundles falling in value, then home owners defaulting because they lost their jobs.

Stop the Alternate Right Alternate Factoids please.

Horse shit. The fannie/freddie mess was the doingof the then Democrat controlled congress. One that insisted the program was fine.
One thing you lefties conveniently forget is the fannie/freddie system came with a bunch of rules that in return for banks being FORCED to make high risk loans, the government not only guaranteed them, but the SEC and others made the rules that allowed these mortgages to be sold, packaged into securities then repackaged into other investment vehicles.
Now, granted, the financial institutions trading these so called mortgage backed securities went on a shark infested waters feeding frenzy. Like the members of Congress who never looked into the possible pitfalls of the Fannie/Freddie program, the financial people never bothered to set up safety measures in case of an extreme event or series of events that caused a mass default on the loans.

FYI the famous Barney Frank's video, Barney was in the MINORITY when he made it....there was NOTHING that barney Franks could say or do, to stop the MAJORITY, the REPUBLICANS in control, from doing something.

Republicans chose NOT to do anything, even though Senator Hagel introduced a bill to reign fanny and freddie in, because Freddie Mac LOBBIED REPUBLICANS with tons of money, to prevent Hagel's bill from even having a vote on the Senate floor....that was REPUBLICANS in the majority, KILLING the legislation to reign FANNIE and FREDDIE in.

Oh that is a bunch of baloney....When there is not a veto proof majority in the House and a Filibuster/veto proof majority in the Senate, the minority party then has the ability to steer the Congress or even stop legislation cold.
Do you really want me to post the committee memberships and Chairs back then?
Cut the crap. Sens Frank and Dodd and Rep Watt in the House were in very powerful positions.

 

[thereisnospoon]

Obama waded into FHA and cut the mortgage insurance premium. Trump wants time to examine the FHA program which is a reasonable thing to do, especially given that the crash of 2008 was attributed directly to under-qualified buyers getting mortgages and then defaulting in large numbers.
Trump already suspends Obama-era FHA mortgage insurance cut

The last part is false. The market crashed because of the mortgage bundles falling in value, then home owners defaulting because they lost their jobs.

Stop the Alternate Right Alternate Factoids please.

Horse shit. The fannie/freddie mess was the doingof the then Democrat controlled congress. One that insisted the program was fine.
One thing you lefties conveniently forget is the fannie/freddie system came with a bunch of rules that in return for banks being FORCED to make high risk loans, the government not only guaranteed them, but the SEC and others made the rules that allowed these mortgages to be sold, packaged into securities then repackaged into other investment vehicles.
Now, granted, the financial institutions trading these so called mortgage backed securities went on a shark infested waters feeding frenzy. Like the members of Congress who never looked into the possible pitfalls of the Fannie/Freddie program, the financial people never bothered to set up safety measures in case of an extreme event or series of events that caused a mass default on the loans.

FYI the famous Barney Frank's video, Barney was in the MINORITY when he made it....there was NOTHING that barney Franks could say or do, to stop the MAJORITY, the REPUBLICANS in control, from doing something.

Republicans chose NOT to do anything, even though Senator Hagel introduced a bill to reign fanny and freddie in, because Freddie Mac LOBBIED REPUBLICANS with tons of money, to prevent Hagel's bill from even having a vote on the Senate floor....that was REPUBLICANS in the majority, KILLING the legislation to reign FANNIE and FREDDIE in.

Revisionist history, cupcake
http://www.usnews.com/opinion/blogs...rats-were-wrong-on-fannie-mae-and-freddie-mac
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
The White House Warned Congress About Fannie Mae Freddie Mac 17 Times In 2008, Alone
Are you sure you wish to continue arguing?

 

[Care4all]

Here it is
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005



Published October 19, 2008
Associated Press

WASHINGTON – Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.


In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September.

Freddie Mac's payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel's bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it.

In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.

"If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient.

Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side.

In the end, there was not enough Republican support for Hagel's bill to warrant bringing it up for a vote

 

[toomuchtime_]

Here it is
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005



Published October 19, 2008
Associated Press

WASHINGTON – Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.


In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September.

Freddie Mac's payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel's bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it.

In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.

"If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient.

Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side.

In the end, there was not enough Republican support for Hagel's bill to warrant bringing it up for a vote

If the Democrats hadn't opposed it, there would have been enough votes to pass it even without those few Republicans.

 

[thereisnospoon]

Here it is
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005



Published October 19, 2008
Associated Press

WASHINGTON – Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.


In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September.

Freddie Mac's payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel's bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it.

In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.

"If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient.

Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side.

In the end, there was not enough Republican support for Hagel's bill to warrant bringing it up for a vote

Just a minute. So WHO confirmed this story? And where does the term "republican consulting firm" originate?
it is painfully obvious that this is nothing more than a left wing hit piece that has the sole purpose of protecting democrats.
Do not post editorialized articles

 

[Care4all]

Here it is
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005



Published October 19, 2008
Associated Press

WASHINGTON – Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.


In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September.

Freddie Mac's payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel's bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it.

In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.

"If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient.

Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side.

In the end, there was not enough Republican support for Hagel's bill to warrant bringing it up for a vote

If the Democrats hadn't opposed it, there would have been enough votes to pass it even without those few Republicans.

Yes, the democrats in MINORITY did oppose it....

but the Republicans did not need the Democrats to pass REFORMs or Hagel's bill, but the Republicans were bought off, behind Hagel's back, by the Republican lobbying firm, and THIS is why there was no reform done on Fannie and Freddie.

 

[ThoughtCrimes]

Thank you for the quote from the article. Never mind that you could have, like a sane adult would, offered that when I originally remarked about it. Anywhoooooo, don't let me keep you. Carry on with your celebration that Trump is ruining everything after a mere week and a half on the job. Bye bye now, snowflake.

It's not my fault you didn't perform due diligence, shit for brains, and read the fucking article in the OP first to be informed before placing your fingers on the damn keyboard, you bloody fool!

And there is not anything to celebrate regarding Trump in any wise given his multiple fuck ups his first two weeks in office. Only a fool would consider that appropriate or justified you fucking imbecile!!!!

 

[Care4all]

Here it is
Freddie Mac Tried to Kill Republican Regulatory Bill in 2005



Published October 19, 2008
Associated Press

WASHINGTON – Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.


In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September.

Freddie Mac's payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel's bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it.

In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.

"If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient.

Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side.

In the end, there was not enough Republican support for Hagel's bill to warrant bringing it up for a vote

Just a minute. So WHO confirmed this story? And where does the term "republican consulting firm" originate?
it is painfully obvious that this is nothing more than a left wing hit piece that has the sole purpose of protecting democrats.
Do not post editorialized articles

The article I gave you is from Fox News posting it, but just google Freddie Mac lobbies Republicans on Hagel bill....

You'll get a thousand articles on it....

 

[Claudette]

Trump's people have put the FHA on hold, and mortgages dropped 3.2% because of the hold on government-insured loans. Will they put VA loans on hold as well. And volume dropped 18% from the same week the year before. This occured as "a direct result of the Trump administration reversing a cut in the FHA's annual mortgage insurance premium just hours after the inauguration", ending the "the last major policy act of the Obama administration and would have decreased monthly payments for thousands of new, lower-income borrowers"

The result obviously must the desire of Trump's people to have home owners pay higher interest rates to the banks.

Trump’s first housing move tanks mortgage applications 3.2%

Such evil people.

Wow, sworn in on Friday and the market responds to Trump by Monday. To think that after 8 years you still blame Bush for everything in the economy.

Go drink your coffee and wake up. Yes, markets respond to stupid admin actions.

Yet 8 years later nothing about the economy is the responsibility of Obama.

Nope.

Everything bad that happened in douchebags administration was Buuussshhhsss fault.

Douchebag was never responsible for anything and neither was his administration.