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Feuding politicians agree to split mortgage settlement cash

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Mortgage Professional America | 22 Jan 2014, 07:17 AM Agree 0
A feud between two New York politicos over mortgage settlement funds is over, at least for the moment
  • Paul | | 22 Jan 2014, 08:42 AM Agree 0
    Politicians plus pots and pots of money equals very probable potential plundering.

    Seriously, if the money is to help folks, why not start with foreclosure prevention before providing housing perks for new wave of homeowners???

    What am I missing here?
  • It's about vote buying... | | 22 Jan 2014, 08:49 AM Agree 0
    The more money they can control, the more votes they can buy.
  • ramoness | | 22 Jan 2014, 08:51 AM Agree 0
    ... and this $13B will "provide help to those who have been hurt most by the housing crisis" how?

    Interesting to see where this money will actually be spent. Can only imagine how other states are salivating over their upcoming windfalls.

  • Kathy Aaron | | 22 Jan 2014, 09:41 AM Agree 0
    Gotta love the age of legal extortion. Follow the rules as they are written and then when the rules change pay a price for doing what you were essentially told to do.
  • JOE M | | 22 Jan 2014, 09:57 AM Agree 0
    I bet the CFPB will get a chunk of those funds to help continue the "enforcement and
    prosecution" of small mortgage business owners who are trying to survive in this era of
    "big brother" kicking "little bothers" tail all the the way to jail.
  • Paul | | 22 Jan 2014, 10:26 AM Agree 0
    Usually when you hear the old cliche, "What goes around, comes around" it is not a good thing. UNLESS you are a politician who advocated home mortgages for people of any credit stripe and little or no skin in the transaction. Politicos opened the door for a run-away real estate finance debacle.

    Now, the big beneficiaries remain the big lenders, their pay-back for going one step (or two steps over the line) beyond into the realm of fraud, is to give money as penance to politicos.

    As someone posted earlier, imagine if existing lending guidelines were used and politicos stayed out of the lending business, oh my mind reals...
  • Griff | | 23 Jan 2014, 11:21 AM Agree 0
    Not too hard to conjure up a visual of two gov't agencies fighting over money. Maybe JPMC can find a way for it to all land back in their laps.
  • Traci | | 23 Jan 2014, 11:34 AM Agree 0
    I've been wondering where the money was going to go...follow the money back to the source of the problem!!! Politicians and attorneys are driving this country straight to ****!!!
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