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Careless origination, not affordable housing goals, behind mortgage meltdown, what do you think?

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Ryan Smith | 29 Apr 2014, 10:35 PM Agree 0
A prominent member of the Senate Banking Committee insisted that the housing meltdown was primarily caused by careless investment and defended the government's affordable housing goals. How do you feel about that?
  • Joe | | 29 Apr 2014, 10:36 PM Agree 0
    CARELESS ORIGINATIONS? WTF? If I were car salesman, that would be like blaming me for faulty braking systems. I am just the salesman. If a client walks in and says they want a Ford, I sell them a Ford. If they want a Chevy, I sell them a Chevy. If they qualify for the Ford or Chevy, they qualify. Please put the blame where the blame is due... The guy who makes the Fords and Chevy. DON'T BLAME THE SALESMAN.
  • Rolo | | 29 Apr 2014, 10:40 PM Agree 0
    If the subprime mess was not created by Goverment they never would have been sold. Needless to say they have the highest cost to renew your license each year and now with the goverment involved and look for scap goats. Agreed there are some bad Originators out there but majority are good but now everyone suffers.
  • Simon Dalambert | | 29 Apr 2014, 10:43 PM Agree 0
    This is total Crap, Originators are on straight commissions and sell what is available to them. If the subprime mess was not created by Goverment they never would have been sold. Needless to say in Mass they have the highest cost to renew your license each year and now with the goverment involved and look for scap goats. Agreed there are some bad Originators out there but majority are good but now everyone suffers. Why dont they regulate, gas prices, electricians, plumbers etc I know when they come to my house one is 85, the other is 130 a hour etc. Gas is 349 on place, 329 another it is called free enterprise but to regulate the mortgage industry for programs these clowns put into place is just wrong. Now we have appraisals, reviews and all other things that guess who pays for it the customers!!! We all know 5% are bad mortgages and the other 80% customers knew exactly what they were doing but wnated to keep up with their neighbors and lost so instead of owning up jump on Govt handouts and cried fool to try and survive. I dont see where increase costs for others to profit from is better for customers.. A BIG JOKE
  • Benjamin Albert | | 29 Apr 2014, 10:49 PM Agree 0
    Okay! It seems that most of those commenting here know what REALLY happened. The Feds forced these mortgages on the industry. I don't need to go into all the details, we know them all too well.

    Now here is the BIG question! Why are all of you NOT doing anything about it?! Why are you just complaining?!

    Now for the BIGGER question! WHY AREN'T ALL OF US IN THIS INDUSTRY COMING DOWN ON WASHINGTON DC AND THE FEDS IN MASS?!!! Why aren't we DEMANDING the truth be heard. Why aren't we camped on the doorsteps of the Senate and Congress?

    REMEMBER... this is suppose to be a government of the people, by the people, and FOR THE PEOPLE.

    Why are we just rolling over and allowing the DICTATORS in DC to force this crap on us?

    I hate to remind you of this but....Evil ONLY exists where good men do NOTHING!

    Get the truth out! Tell the public the truth. Talk to newspapers, radio stations, civic groups, etc. They have no clue as to what DC is doing to the housing industry.

    The CFPB is a 100% autonomous dictatorship unaccountable to no one. By law they can do whatever THEY want, regardless of what we the people want.

    The president, the Senate and Congress, are all filled with people who believe that we the people are sheep who won't stand up to them. They are a bunch of princes and princesses, lead by one who thinks he is a king, living high off of Americans with an entitlement mentality.

    LAST POINT... If we don't ALL get angry as Hell and get actively involved NOW... we will be getting EXACTLY what we deserve.

    Oh, one more point... I hope that this forum will take all these comments and send them to the powers to be, and let them know that we will NO LONGER sit idly by and allow this to happen.
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