Only in a hospital you would want this, “It is much more important…

A Trackback is one of three types of Linkbacks, methods for Web authors to request notification when somebody links to one of their documents….

I can not agree with you in 100% regarding some thoughts, but you got good point of view…

If your friend yearns for a Falls , It is smooth to recieve an} auto loan in…

Damn, try working on the capitalization, spelling and punctuation and get back to us in say - fifty years or so.

As for “In talking to some hedge fund experts, lower morgage rates for prime customers left many investors hungry for higher returns.
Those investors were convinced to buy packages of loans that mixed low credit score loans with higher credit score loans.” Perhaps Paul can explain how ‘libs’ and Comm Redev forced that to be done.

http://bus.utk.edu/finance/fac_staff/flautt/yinger.pdf

It states that “default rates” basically, do not matter when we study loan discrimination.

The author states, rather clearly, that loan denial rates should be the same, across all racial lines, in the author’s opinion.

These same arguments have been used in court rooms all across the country, when “neighborhood organizers” like Obama shook down lenders to force sub-prime mortgages to low credit score customers.

http://en.wikipedia.org/wiki/Subprime_lending

I do understand that Wiki is a starting point, one that isn’t always reliable but there are many other places that use this definition.

Perhaps it’s a combination. But almost all sources I checked stated borrowers had an array of credit scores.

Don’t know, but what ya wanna bet Mom and Dad rebought the home for 200k at forclosure auction?

Unfortunately a whole lot of brokers steered people into these who might have qualified for more conservative conventional loans. Also they used low teaser rates to entice people into them and often into over-appraised homes.

That is NOT what the term means.

Sub Prime means “LESS THAN AAA Credit”

Sub Prime refers to the credit rating of the person who borrows the money.

NPR had a story last night about a bank in New Orleans who trusted and worked with their low-income customers after Katrina. While they did have some losses they are doing MUCH better than the Bear Sterns etc bunch.

“Sub-prime” by DEFINITION means lending at a higher rate than the prime rate.

Besides, this is a multi-faceted problem.

A HUGE part of the problem was the “buble” caused by the market dealing with more buyers than sellers.

This always increases the price of any product.

Supply and demand, get it?

And, the housing bubble was fueled by many, many things: low interest rates, speculation, government subsidies in the form of tax breaks, government regulations such as the Community Reinvestment Act and Community Development programs, and the threat of lawsuits when loans are denied.

ALL of these things contributed to high demand for real estate, which caused the sky-rocketing real estate prices.

The only NEW variable in all of that mix?

Well, the repeal of Glass-Steagall under Clinton and the passage of the Community Reinvestment Act, which led to litigation and political shake downs in the mortgage market, those things are RECENT.

And those changes were heavily supported by Democrats and Republicans alike!

“Jackson, who declined to be interviewed, will be remembered as a Cabinet secretary so committed to carrying out President Bush’s goal of increasing homeownership that he ENCOURAGED policies that threatened to EXACERBATE the mortgage crisis, according to interviews with more than 30 current and former HUD officials and housing experts, and a review of numerous HUD documents and audits.”