Posted on 09/25/2008 6:44:51 AM PDT by Soliton
The top priority may be to ask more of Fannie Mae and Freddie Mac. The two companies are now required to devote 42% of their portfolios to loans for low- and moderate-income borrowers; HUD, which has the authority to set the targets, is poised to propose an increase this summer. Although Fannie Mae actually has exceeded its target since 1994, it is resisting any hike. It argues that a higher target would only produce more loan defaults by pressuring banks to accept unsafe borrowers. HUD says Fannie Mae is resisting more low-income loans because they are less profitable
(Excerpt) Read more at articles.latimes.com ...
GOOD FIND!!!
WE need to send ALL OF THESE links to Hannity and Rush and Fox to show how it is 100% democraps fault for this mess.
Democrats are leading America to hell in a handbasket.
Hopefully someone will capture these finds/links because they will probably mysteriously disappear.
They were just doing old fashioned community organizing
Big BUMP to the top. Thanks, Clinton Administration.
btt
We should not forget the root of this- the democrats used government to force financial institutions to play affirmative action lenders and lend to minorities that would never pay the loans back.
Bail out or no bailout. Unless this practice is stopped this will happen all over again in the future. Guaranteed.
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