[Brad’s Gramma]

Claw3, since YOU brought up the race card....

...are these loans being offered to anyone other than the illegal Mexicans? And please, don't say yes, anyone can get a loan. You know exactly what I'm talking about.

I honestly do NOT know the answer, do you?

[A CA Guy]

I have heard of the 5% down and interest only stuff.
In general, used to be that 5% down was for people with a long credit history that is good. This is ignorant IMO.

I know for 1/2% more on interest rates you could at least a while ago be able to put 5% down on a thirty year loan.

The loan industry gets out of hand if it is not watched closely because many are paid by commissions for how many loans they made. So if they can make more loans, they will.
Figure such people might leave the job in a few years, but if they had three years of 200k commissions, they got theirs and are gone.

It is up to Federal regulation to prevent the kind of stupidity I am talking about.
I think at this time we may be set for major problems.

[clawrence3]

I don't know the answer either, especially since Wells Fargo is not required by law (and, in fact, is prohibited as an "Equal Housing Lender") to determine applicants' immigration status.