Banks gave home loans to people who couldn't pay them back because they resold the loans (passed the risk onto someone else), not because of "fines". Deregulation caused the housing bubble, not overregulation.
"Regulatory reforms such as Dodd-Frank require lenders to make a reasonable and good faith determination of a borrower's ability to repay any loan secured by a dwelling".
13 comments:
No.
^^Insane in the membrane^^
I watched an interesting video on this topic the other day. Lemme dig through my YouRube history.
Tariffs aren't government intervention? Who knew?
We had tariff's in 2008?
?
We didn't?
I wonder if the fines for not giving broke people housing loans would have been cheaper long term.
Derpy, you're left-wing.. what do you have against tariffs and government interventions?
Nothing. I think they are a good idea (answering for "Derpy").
Banks gave home loans to people who couldn't pay them back because they resold the loans (passed the risk onto someone else), not because of "fines". Deregulation caused the housing bubble, not overregulation.
That sure explains HUD's targets... e-r-r-r-r-r-p.
HUD never mandated banks make liar loans.
"Regulatory reforms such as Dodd-Frank require lenders to make a reasonable and good faith determination of a borrower's ability to repay any loan secured by a dwelling".
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