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Politics : Mainstream Politics and Economics
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To: koan who wrote (32242)10/24/2012 5:42:24 AM
From: Broken_Clock1 Recommendation  Read Replies (1) of 85487
 
two errors right off the top koan:
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"Tiny Mortgage offices, credit unions and even insurance companies sell the loans to customers and the more paper work they have to do the less commissions they get."

Dude, loan originators negotiate whatever commission they want to charge. it has nothing to do with the amount of paperwork.
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"Right now it is so regulated it is very difficult to make loans, especially condos."

The reason banks won't loan so easily anymore is because of the threats from the FHFA to put back bad loans to the lenders. Now that Obama has waived any future putbacks(literally, no matter how fraudulent a loan is when created, as long as the borrower makes the first 12 payments, there is no recourse from the gov't back to the originator).

You can blame the next bubble on Obama, not Bush.
americanbanker.com
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