Forums
New posts
Search forums
What's new
New posts
New media
New media comments
Latest activity
Media
New media
New comments
Search media
Members
Registered members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
SportTrac Discussion
General Sport Trac Discussion
Obama admin pushing banks to offer sub-prime mortgages again...
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Help Support Ford SportTrac Forum:
This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
Message
<blockquote data-quote="H D" data-source="post: 963046" data-attributes="member: 68494"><p>I have never attempted to justify redlining. Each case should be handled on an individual basis. It's the agencies that are noticing a lack of loans in particular areas and they are doing their job to investigate whether unfair lending practices are occurring. I have not criticized the investigations. I am critical of any actions that again force banks to provide sub-prime mortgages.</p><p></p><p></p><p></p><p>Just because certain areas are underrepresented by a bank's lending practices does not necessarily mean that they are redlining; can we at least consider the option that perhaps there really are few credit-worthy applicants in that area? Fewer people that live in higher cost areas are receiving new loans and it would only be logical that in the lower cost areas, an ever lower percentage would qualify, regardless of the interest rates or any other factors.</p><p></p><p></p><p></p><p>I am only pointing to the groundwork that might possibly be currently being laid for subprime mortgages to be forced on banks again. Has anybody looked at the situation of Fannie Mae and Freddie Mac recently? It's not really in the news, but it is worth looking into. </p><p></p><p></p><p></p><p>I also wish that it would stop be pushed on me that I have been connecting President Obama's direct preferences to this situation. I have made it obviously clear that I am talking about his ADMINISTRATION. All of the executive branch falls into this category and all regulatory agencies are part of the executive branch. I have not criticized the president for a single thing in this entire thread and I would prefer that I not be portrayed in such a way. </p><p></p><p></p><p></p><p>When the president directly does something stupid, believe me, I will call him out on it. When he deserves praise, I will give due praise. In this thread, though, I have never once praised or criticized President Obama. What some of you may want to ask yourself is why you are so quick to jump to his defense before he has even been called out on anything?</p></blockquote><p></p>
[QUOTE="H D, post: 963046, member: 68494"] I have never attempted to justify redlining. Each case should be handled on an individual basis. It's the agencies that are noticing a lack of loans in particular areas and they are doing their job to investigate whether unfair lending practices are occurring. I have not criticized the investigations. I am critical of any actions that again force banks to provide sub-prime mortgages. Just because certain areas are underrepresented by a bank's lending practices does not necessarily mean that they are redlining; can we at least consider the option that perhaps there really are few credit-worthy applicants in that area? Fewer people that live in higher cost areas are receiving new loans and it would only be logical that in the lower cost areas, an ever lower percentage would qualify, regardless of the interest rates or any other factors. I am only pointing to the groundwork that might possibly be currently being laid for subprime mortgages to be forced on banks again. Has anybody looked at the situation of Fannie Mae and Freddie Mac recently? It's not really in the news, but it is worth looking into. I also wish that it would stop be pushed on me that I have been connecting President Obama's direct preferences to this situation. I have made it obviously clear that I am talking about his ADMINISTRATION. All of the executive branch falls into this category and all regulatory agencies are part of the executive branch. I have not criticized the president for a single thing in this entire thread and I would prefer that I not be portrayed in such a way. When the president directly does something stupid, believe me, I will call him out on it. When he deserves praise, I will give due praise. In this thread, though, I have never once praised or criticized President Obama. What some of you may want to ask yourself is why you are so quick to jump to his defense before he has even been called out on anything? [/QUOTE]
Insert quotes…
Verification
Post reply
SportTrac Discussion
General Sport Trac Discussion
Obama admin pushing banks to offer sub-prime mortgages again...
Top