Obama is setting us up for another housing-market collapse

[smartjuanxxx]

http://nypost.com/2016/04/09/team-obama-is-setting-us-up-for-another-housing-market-collapse/

The Office of the Comptroller of the Currency recently warned that mortgage underwriting standards have slipped and now reflect “broad trends similar to those experienced from 2005 through 2007, before the most recent financial crisis.”

When the economy and housing prices turn south again, a lot of these loans will go bad, just as they did last time.

Its Deja Vu all Over Again

 

[NeverEndingMe]

obama - the dumbass in the room

 

[miles]

Of course...now the government can blame the banks again.

 

[4est_4est_Gump]

Of course...now the government can blame the banks again.

Right before it bails them out, then has a new investigation and then writes a whole new set of regulations to fix the errors and ways of unchecked Capitalism...



After six months, the Feds will begin pressing them to give more minority loans because it looks like hey have lapsed back into their discriminatory proclivities.

 

[NeverEndingMe]

obama, proof that democrats are retards

 

[phrodeau]

So Congress better do something for a change.

 

[4est_4est_Gump]

So Congress better do something for a change.

Frodo wants scream racism...

 

[richard_daily]

Which specific parts of underwriting are you claiming to be the issue right now?

 

[smartjuanxxx]

Which specific parts of underwriting are you claiming to be the issue right now?

 

[NeverEndingMe]

Which specific parts of underwriting are you claiming to be the issue right now?

psst, dude, you are kind of a dumb ass retard

 

[richard_daily]

So neither of you dumbasses actually have a clue, yet you'll parrot whatever is put in front of you by your handlers.

Not surprising.

 

[smartjuanxxx]

we do

we dont think its worth talking to you




the reasons are OBVIOUS, even to you

 

[NeverEndingMe]

So neither of you dumbasses actually have a clue, yet you'll parrot whatever is put in front of you by your handlers.

Not surprising.

not surprising that you are an extra kind of special

 

[richard_daily]

not surprising that you are an extra kind of special

Since I know you and busybody are particularly slow, let me try again:

What specific underwriting guidelines are supposedly the issue right now?

If you don't know, or can't answer, then you shouldn't be posting about it as if it's truth, because it's not.

 

[miles]

The government forced banks to give home loans to people without proof of income or employment. When people defaulted on their loans the government blamed the lenders.

Pure insanity.

 

[NeverEndingMe]

Since I know you and busybody are particularly slow, let me try again:

What specific underwriting guidelines are supposedly the issue right now?

If you don't know, or can't answer, then you shouldn't be posting about it as if it's truth, because it's not.

not surprising, since you are an extra kind of slow. you, and the obama kind take being a dumb ass to a new level of being a retard.

 

[richard_daily]

The government forced banks to give home loans to people without proof of income or employment. When people defaulted on their loans the government blamed the lenders.

Pure insanity.

That never happened, but enjoy pretending that it did.

 

[richard_daily]

not surprising, since you are an extra kind of slow. you, and the obama kind take being a dumb ass to a new level of being a retard.

So you can't answer the question.

 

[Que]

Since I know you and busybody are particularly slow, let me try again:

What specific underwriting guidelines are supposedly the issue right now?

If you don't know, or can't answer, then you shouldn't be posting about it as if it's truth, because it's not.

Just like last time, debt to income ratios permitted are being increased, and the amount of reserves being required are being decreased.

Now that you have the specifics that you demanded, explain how it is, in your view that it will end differently this time?

 

[richard_daily]

Just like last time, debt to income ratios permitted are being increased, and the amount of reserves being required are being decreased.

Now that you have the specifics that you demanded, explain how it is, in your view that it will end differently this time?

Required debt to Income ratios were draconian for the last 6 years. That's one of the major reasons why the housing market has taken so much time to rebound. So, you're arguing that the regulations are too loose, but I don't see it that way. You still need high credit scores, verifiable income, a W2, and pay stubs. If you're self-employed, it's still extremely difficult to get a package that works for you, and you have a tremendous amount of hoops to jump through, all to give someone the privilege of earning as much as double the principal on a 30 year fixed mortgage.

So I don't see anything as being the same as in 2007. I got 2 loans in 2007, and there is very little in common with then as compared to 2010 and on.

Who was in charge in 2007?

 

[smartjuanxxx]

Required debt to Income ratios were draconian for the last 6 years. That's one of the major reasons why the housing market has taken so much time to rebound. So, you're arguing that the regulations are too loose, but I don't see it that way. You still need high credit scores, verifiable income, a W2, and pay stubs. If you're self-employed, it's still extremely difficult to get a package that works for you, and you have a tremendous amount of hoops to jump through, all to give someone the privilege of earning as much as double the principal on a 30 year fixed mortgage.

So I don't see anything as being the same as in 2007. I got 2 loans in 2007, and there is very little in common with then as compared to 2010 and on.

Who was in charge in 2007?

clearly you didnt read teh link on Oh Pee and new rules

and Bush warned and warned and Frank n Co said NO BIG DEAL

 

[smartjuanxxx]

http://nypost.com/2016/04/09/team-obama-is-setting-us-up-for-another-housing-market-collapse/




Its Deja Vu all Over Again

Quote:
The Office of the Comptroller of the Currency recently warned that mortgage underwriting standards have slipped and now reflect “broad trends similar to those experienced from 2005 through 2007, before the most recent financial crisis.”

When the economy and housing prices turn south again, a lot of these loans will go bad, just as they did last time.


Dick Daley says THIS GUY IS A LIAR and RACIST

 

[richard_daily]

Quote:
The Office of the Comptroller of the Currency recently warned that mortgage underwriting standards have slipped and now reflect “broad trends similar to those experienced from 2005 through 2007, before the most recent financial crisis.”

When the economy and housing prices turn south again, a lot of these loans will go bad, just as they did last time.


Dick Daley says THIS GUY IS A LIAR and RACIST

Some people (you) will believe anything they read.

What standards are slipping?

 

[Que]

Required debt to Income ratios were draconian for the last 6 years. That's one of the major reasons why the housing market has taken so much time to rebound. So, you're arguing that the regulations are too loose, but I don't see it that way. You still need high credit scores, verifiable income, a W2, and pay stubs. If you're self-employed, it's still extremely difficult to get a package that works for you, and you have a tremendous amount of hoops to jump through, all to give someone the privilege of earning as much as double the principal on a 30 year fixed mortgage.

So I don't see anything as being the same as in 2007. I got 2 loans in 2007, and there is very little in common with then as compared to 2010 and on.

Who was in charge in 2007?

"Draconian??"

Time-tested ratios are based on actual default rates. People with too much debt have nowhere to turn when something (inevitably) strains their budget.

As far as reserves, if you don't have the ability to save one months PITI, you are not at all able to commit to 360 payments.

Keep parroting the partisan line, but oversight was under (and blocked by) Chris Dodd and Barney Frank and associates.

"The privilege" of earning a very modest ROI?

Doubling your investment in THIRTY years is far from usury. Investors could care less about that portion of the transaction. Essentially, if everyone paid for 360 pmts without refinancing or moving they would lose money in real terms after inflation. Money is made in origination and repackaging to HUD, FNMA or FMAC

 

[4est_4est_Gump]

Actuarial tables are fucking racist...

:nods:​