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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (821593)12/9/2014 1:49:08 PM
From: i-node  Read Replies (1) of 1584189
 
>> You clearly don't understand how the real estate industry works and how corrupt it go under Bush..........appraisers lying, loan packagers ignoring crappy credit reports, and banks coming up with mystical lending practices. All that happened because no one was watching the hen house.

I know more about the real estate business than you ever will.

Appraisers lying? Appraisers actually complained to Congress via a petition signed by 11,000 of them that lenders were pressuring them to inflate prices. I've dealt with a very large number of real estate appraisers over the years, and while they can be influenced on the margins, they generally do a pretty damned good job by virtue of inclusion of comp values.

Loan packages were REQUIRED by Clinton's law to "ignore crappy credit reports." The lending practices banks came up with were those that were supported by FNMA, which Bush was demanding regulation for.
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