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Obama never sued for crappy mortgage loans, racists call them "crappy" because to racists no minority is EVER qualified for a loan, or anything else for that matter.Obama suing Chicago banks for not writing enough crappy mortgage loans, back when he was a community organizer.
There was no "then-existing policy" of lowering lending standards, Bush owns that himself, but you knew that already. Under Obama, borrowers had to be qualified, and had to have a downpayment. Bush made no downpayment loans for more than the house was worth to borrowers with bad credit who earned 20% less than the average income of the neighborhood they were buying into with his ADDI.To be to totally accurate, the Bush administration did not stop the then-existing policy of pressuring/enticing lenders into lowering credit standards.
Critics who say that loans to QUALIFIED minorities were "crappy" ARE racists, yes they are.Obama never sued for crappy mortgage loans, racists call them "crappy" because to racists no minority is EVER qualified for a loan, or anything else for that matter.Obama suing Chicago banks for not writing enough crappy mortgage loans, back when he was a community organizer.
Oh, so critics of those loans are "racists"??? Really? Anyway, you might wanna do a bit more reading on that one. Obama sued to pressure banks to extend loans to people who could not meet regular, sound credit standards.
LIAR! And you know it!Obama sued to pressure banks to extend loans to people who could not meet regular, sound credit standards.
That is a complete lie, but you knew that already. The MAJORITY Republicans blocked EVERY reform bill, the Dems were POWERLESS. Reform was only passed when the Dems took over Congress, but by then the GOP obstruction had already taken its toll.Bush did call attention to the dangers of what Freddie and Fannie were doing with home loans, and Congressional Republicans tried to impose tougher regulations on them, but Democrats blocked all of their efforts.
Obama never sued for crappy mortgage loans, racists call them "crappy" because to racists no minority is EVER qualified for a loan, or anything else for that matter.Obama suing Chicago banks for not writing enough crappy mortgage loans, back when he was a community organizer.
There was no "then-existing policy" of lowering lending standards, Bush owns that himself, but you knew that already. Under Obama, borrowers had to be qualified, and had to have a downpayment. Bush made no downpayment loans for more than the house was worth to borrowers with bad credit who earned 20% less than the average income of the neighborhood they were buying into with his ADDI.To be to totally accurate, the Bush administration did not stop the then-existing policy of pressuring/enticing lenders into lowering credit standards.
That is a complete lie, but you knew that already. The MAJORITY Republicans blocked EVERY reform bill, the Dems were POWERLESS. Reform was only passed when the Dems took over Congress, but by then the GOP obstruction had already taken its toll.Bush did call attention to the dangers of what Freddie and Fannie were doing with home loans, and Congressional Republicans tried to impose tougher regulations on them, but Democrats blocked all of their efforts.
Critics who say that loans to QUALIFIED minorities were "crappy" ARE racists, yes they are.Obama never sued for crappy mortgage loans, racists call them "crappy" because to racists no minority is EVER qualified for a loan, or anything else for that matter.Obama suing Chicago banks for not writing enough crappy mortgage loans, back when he was a community organizer.
Oh, so critics of those loans are "racists"??? Really? Anyway, you might wanna do a bit more reading on that one. Obama sued to pressure banks to extend loans to people who could not meet regular, sound credit standards.
There was no "then-existing policy" of lowering lending standards, Bush owns that himself, but you knew that already. Under Obama, borrowers had to be qualified, and had to have a downpayment. Bush made no downpayment loans for more than the house was worth to borrowers with bad credit who earned 20% less than the average income of the neighborhood they were buying into with his ADDI.To be to totally accurate, the Bush administration did not stop the then-existing policy of pressuring/enticing lenders into lowering credit standards.
That will be the day!At least most Republicans are willing to admit Bush Fd up
The Right claims Bush was not responsible for anything that happened in 2001, 2007 and 2008.
Obama will go down in history as a mainly irrelevant President who added 10 trillion to the debt.. His signature piece of legislation was all but dismantled a year after he left office. His party lost the House, Senate and many Governorship's due to his far left radical agenda such as allowing men in the women's restroom. As the first black president, Obama had the potential to significantly improve race relations. Instead, race relations took a step backwards while radical groups like BLM and their hate for law enforcement pushed Obama's party even further left and away from mainstream America. Obama all but handed the White House to Trump and the Republicans in 2016.
Not enough MINORITIES with QUALIFYING credit could not get mortgages after a HUD sting operation exposed the discrimination.Obama never sued for crappy mortgage loans, racists call them "crappy" because to racists no minority is EVER qualified for a loan, or anything else for that matter.Obama suing Chicago banks for not writing enough crappy mortgage loans, back when he was a community organizer.
Obama never sued for crappy mortgage loans
Right, he sued because not enough people with great credit could get mortgages.
From your link:There was no "then-existing policy" of lowering lending standards, Bush owns that himself, but you knew that already. Under Obama, borrowers had to be qualified, and had to have a downpayment. Bush made no downpayment loans for more than the house was worth to borrowers with bad credit who earned 20% less than the average income of the neighborhood they were buying into with his ADDI.To be to totally accurate, the Bush administration did not stop the then-existing policy of pressuring/enticing lenders into lowering credit standards.
Fannie Mae Eases Credit To Aid Mortgage Lending
Not enough MINORITIES with QUALIFYING credit could not get mortgages after a HUD sting operation exposed the discrimination.Obama never sued for crappy mortgage loans, racists call them "crappy" because to racists no minority is EVER qualified for a loan, or anything else for that matter.Obama suing Chicago banks for not writing enough crappy mortgage loans, back when he was a community organizer.
Obama never sued for crappy mortgage loans
Right, he sued because not enough people with great credit could get mortgages.
Hud `Sting` To Root Out Lending Bias
The U.S. Department of Housing and Urban Development plans to begin using undercover ``sting`` operations to investigate banks for racial discrimination in mortgage lending.
The department will use its authority under fair-housing legislation to send ``matched pairs`` of minority and white testers posing as mortgage applicants into banks to uncover loan discrimination. The testers will have closely matched characteristics, such as income, credit history and bank balances.
The undercover operation follows the release last fall of a Federal Reserve study of all U.S. mortgage applications in 1990 showing blacks and Hispanics were far more likely to have their applications turned down than whites, even when their incomes were similar. Affluent blacks were rejected at essentially the same rate as poor whites, the study found.
That is a complete lie, but you knew that already. The MAJORITY Republicans blocked EVERY reform bill, the Dems were POWERLESS. Reform was only passed when the Dems took over Congress, but by then the GOP obstruction had already taken its toll.Bush did call attention to the dangers of what Freddie and Fannie were doing with home loans, and Congressional Republicans tried to impose tougher regulations on them, but Democrats blocked all of their efforts.
From your link:There was no "then-existing policy" of lowering lending standards, Bush owns that himself, but you knew that already. Under Obama, borrowers had to be qualified, and had to have a downpayment. Bush made no downpayment loans for more than the house was worth to borrowers with bad credit who earned 20% less than the average income of the neighborhood they were buying into with his ADDI.To be to totally accurate, the Bush administration did not stop the then-existing policy of pressuring/enticing lenders into lowering credit standards.
Fannie Mae Eases Credit To Aid Mortgage Lending
...banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.
I can believe you never even read my pull quotes before you posted your lie!!!Not enough MINORITIES with QUALIFYING credit could not get mortgages after a HUD sting operation exposed the discrimination.Obama never sued for crappy mortgage loans, racists call them "crappy" because to racists no minority is EVER qualified for a loan, or anything else for that matter.Obama suing Chicago banks for not writing enough crappy mortgage loans, back when he was a community organizer.
Obama never sued for crappy mortgage loans
Right, he sued because not enough people with great credit could get mortgages.
Hud `Sting` To Root Out Lending Bias
The U.S. Department of Housing and Urban Development plans to begin using undercover ``sting`` operations to investigate banks for racial discrimination in mortgage lending.
The department will use its authority under fair-housing legislation to send ``matched pairs`` of minority and white testers posing as mortgage applicants into banks to uncover loan discrimination. The testers will have closely matched characteristics, such as income, credit history and bank balances.
The undercover operation follows the release last fall of a Federal Reserve study of all U.S. mortgage applications in 1990 showing blacks and Hispanics were far more likely to have their applications turned down than whites, even when their incomes were similar. Affluent blacks were rejected at essentially the same rate as poor whites, the study found.
I can't believe you actually posted this nonsense. Banks don't give loans on income alone, and your article highlights it as if income was all that mattered. Credit history is more important to a bank along with where a home is located.
All banks care about is getting their money back with interest. WTF would they care what color somebody was? Sorry, but yes, minorities do have worse credit histories than whites. And your article only said what they were going to do, not what they found. Now can you name me a major banking or lending institution that was prosecuted for racial discrimination in loan practices?
