Predatory Lending, or Mortgage Fraud?

[SHELLY]

Maybe you should be telling us why they shouldn't be held to a higher standard. They created agencies to monitor Banks, FNMA and FHLMC, the OTC, RESPA, HUD, The Federal Reserve, ..............

...because they knew there was no way they could stop the speeding Freight Train of Greed and kill the economy (and pizz off deep-pocket supporters) sooner; so they chose to let it jump the tracks, figuring it would be easier to clean up the mess--good luck with that.

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[Linda]

BREAKING TODAY: Speaking to a small business roundtable at Windows We Are Inc. in Brooklyn, Senator McCain proposes a "HOME Program" to restructure mortgages: "People decide if they need help, they apply for assistance and if approved the government under my HOME Program supports them in getting a new mortgage that they can afford. … Homeowners would end up with a 30-year mortgage and an equity stake in their home. The new lender would receive a federal guarantee of the mortgage."

McCain also calls for "an immediate DOJ task force to aggressively investigate potential criminal wrongdoing in the mortgage lending and securitization industry."

This was posted on Politico.com this morning

 

[BeachKing]

Would ya copy the link to the atricle,,

 

[Mango]

Would ya copy the link to the atricle,,

It's just a blurb mixed in with other political news.

http://dyn.politico.com/playbook/

and from what I can tell via Google, Windows We are Inc. is a window supplier. So, is the roundtable consisting of business owners in the construction industries?

Besides, this is nothing new. Hardly breaking news. Bush already has a similar program in place which might help a small portion of the population currently and the FBI already has a Mortgage Fraud Task Force.

Nothing breaking or new to see here folks, move on.