Oh, I’m not disputing that 20% down is prudent nowadays (and I’m saying this as a lifelong renter with bad credit that, given current tight credit, will probably never own a home). I’m just saying that it’s not Washington’s place to force banks to require it. If a bank wants to step out on the ledge and get back into the “subprime” loan business or loosen down payment requirements, that’s their business as long as the taxpayer isn’t on the hook if they screw it up.
}:-)4
see my post 22 above