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Predatory Lending, or Mortgage Fraud?
Real Clear Markets ^ | April 09, 2008 | Steven Malanga

Posted on 04/09/2008 7:14:54 AM PDT by vietvet67

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1 posted on 04/09/2008 7:14:55 AM PDT by vietvet67
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To: vietvet67
she told a heartwarming story of how her husband Bill had proposed marriage to her by purchasing a home she admired.

I thought they rented up until the time they moved into the governors house!!

2 posted on 04/09/2008 7:20:39 AM PDT by org.whodat (What's the difference between a Democrat and a republican????)
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To: vietvet67

I’ll bet she is lying about her marriage proposal story.


3 posted on 04/09/2008 7:21:39 AM PDT by JRochelle
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To: JRochelle

no no, its true

“That first home, Sen. Clinton said, was part of the American dream for them. “I know how much a home means to all of us,” she added in her speech,”

she just left out how they had to move b/c snipers were hidding on the roof and the had to run for cover every time they came home. And the house also seemed possesed....incriminating papers kept appearing in her study.

Bill thought it was a dream b/c a new intern crawled out of the closet every time Hillary left the room.


4 posted on 04/09/2008 7:28:18 AM PDT by Operation_Shock_N_Awe (Government that can do anything for you; can do anything TO you)
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To: vietvet67

Surely no one is so profoundly gullible as to actually believe any story related by that Senator — especially stories which are presented as “heart-warming”.


5 posted on 04/09/2008 7:28:35 AM PDT by BenLurkin
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To: vietvet67

Not predatory lending...mortgage fraud, sanctioned by the lenders. I have friends in the business and the account reps told you exactly how to get low income borrowers and illegal aliens homes...

It was a big joke.


6 posted on 04/09/2008 7:29:24 AM PDT by jrestrepo
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To: vietvet67

We can bail 3rd world countries out of poverty but when it comes to helping Americans....our Gov. sits on its hand. Even McCain balked at helping citizens. I know most have brought this on themselves....but if we can send a billion dollars to some other country for its whoes....why can’t we stop the outpouring of US dollars outside our borders and take care of business at home.


7 posted on 04/09/2008 7:30:16 AM PDT by Wavrnr10 (Eagles soar but weasels don't get sucked in jet engines)
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To: vietvet67

A good reporter needs to ask Hillary if her experience in Whitewater contributes to her expertise on solving the current crisis. If that reported did her/his homework she/he would see there was provisions for predatory lending practices utilized in that “bad land deal”.

There must be at least one reporter willing to ask the “hard questions”


8 posted on 04/09/2008 7:33:37 AM PDT by Shanty Shaker
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To: vietvet67

The whole sub-prime mess was an incubator for fraud. Customers were encouraged to lie about income and such.


9 posted on 04/09/2008 7:35:16 AM PDT by AppyPappy (If you aren't part of the solution, there is good money to be made prolonging the problem.)
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To: Wavrnr10
but when it comes to helping Americans.... - At the peak of the lending frenzy, I was in the market to re-finance. I looked into those trick loans (interest only, negative amortization, auto-indexing, etc, etc) and said NO WAY. At the same time, I watched couples straight out of college buying $600k houses (income $100k? Less?). Now they have the house, and the bill is due. They want help? Not from me.
10 posted on 04/09/2008 8:04:37 AM PDT by bobsatwork
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To: Wavrnr10
I know most have brought this on themselves....but if we can send a billion dollars to some other country for its whoes....why can’t we stop the outpouring of US dollars outside our borders and take care of business at home.

Well, do you suppose fighting the Islamic menace where it originates (outside our borders) may be a bit more important than lining the pockets of Freddie the grifter (at home)?

11 posted on 04/09/2008 8:13:15 AM PDT by Minn (Here is a realistic picture of the prophet: ----> ([: {()
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To: JRochelle

If I were a reporter and the Hildebeast told me that the sky is blue and grass is green, I would put a fact checker on it.

Somebody needs to call her on her “I was raised on pinochle” statement too. She probably couldn’t explain the game if her life depended on it.


12 posted on 04/09/2008 8:29:40 AM PDT by Cecily
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To: jrestrepo
Not predatory lending...mortgage fraud, sanctioned by the lenders. I have friends in the business and the account reps told you exactly how to get low income borrowers and illegal aliens homes... It was a big joke.

Was a joke.

If others knew how many "criminal" investigations are now being conducted into thousands of these people that falsified loan documents...Well, it's mind bending.

Ya got a lot of people in that industry heading for the tall grass..But trying to move quickly with fraud up to your hips, must be quite difficult.

13 posted on 04/09/2008 8:34:33 AM PDT by dragnet2
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To: Minn
And just how do know its not the influx of Arabian and Chinese investments that are killing the American dollar and ruining our economy. There are always truth turners like you that read Iraq and Afghanistan or politics into every post. My meaning is millions dumped into Haiti, Nicaragua, Somalia, Ethiopia, and other countries where it never gets to those that need it.
14 posted on 04/09/2008 8:34:56 AM PDT by Wavrnr10 (Eagles soar but weasels don't get sucked in jet engines)
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To: Wavrnr10; Minn
We can bail 3rd world countries out of poverty but when it comes to helping Americans....our Gov. sits on its hand. Even McCain balked at helping citizens. I know most have brought this on themselves....but if we can send a billion dollars to some other country for its whoes....why can’t we stop the outpouring of US dollars outside our borders and take care of business at home.

I couldn't agree more. Protection of our homeland and our people starts at our borders, and in the homeland. Right now we have tens of thousands entering this country weekly, illegally, during war time, from Lord knows where. This government sponsored insanity, never stops.

15 posted on 04/09/2008 8:39:17 AM PDT by dragnet2
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To: bobsatwork

But your alright with on Nov. 14 the Pentagon made a $22.9 million payment to the Uzbek government when we stopped using their facilities a week later. Or sending hundreds of millions of dollars to Palestine when its Hamas that collect and bank it. And last but not least and these are just the tip of the iceberg..... But the United States also has funneled dollars to Kim Jong Il’s regime over the past decade, financing travel for North Korean diplomats and paying more than $20 million in cash for the remains of 229 U.S. soldiers from the Korean War. And in a bid to advance nuclear talks, the Bush administration recently transferred back to North Korea about $25 million in cash that the Treasury Department had frozen at Banco Delta Asia, a Macao-based bank that the United States had accused of laundering counterfeit U.S. currency on behalf of North Korea.


16 posted on 04/09/2008 8:41:50 AM PDT by Wavrnr10 (Eagles soar but weasels don't get sucked in jet engines)
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To: vietvet67
One area of particular abuse was so-called ‘stated income’ loans which require little or no documentation of a borrower’s earnings. Originally designed to help self-employed borrowers who don’t have ready access to documents like W-2 forms,

And I suppose, oh say their last 3 years tax returns were unavailable as well. Give me a break.
17 posted on 04/09/2008 8:55:16 AM PDT by Kozak (Anti Shahada: There is no god named Allah, and Muhammed is a false prophet)
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To: Wavrnr10

We seem to be pretty far off-topic for this mortgage thread, but since you asked: I know nothing about the Uzbek thing. I have always opposed payments to “palestine.” Lastly, it is a sad fact that leaders of both parties think bribery is a good thing for terrorists. I’d stop it in an instant. OK?


18 posted on 04/09/2008 8:55:56 AM PDT by bobsatwork
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To: jrestrepo
It was a big joke.

Jokes on us....
19 posted on 04/09/2008 9:00:19 AM PDT by Kozak (Anti Shahada: There is no god named Allah, and Muhammed is a false prophet)
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To: org.whodat

That is my recollection, as well. It may be that Hillary has concocted yet another “fake but accurate” story.


20 posted on 04/09/2008 9:02:07 AM PDT by riverdawg
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