Quote:
Originally Posted by 427 S/O
***I'd sure like to see laws fully enforced and more laws to protect the public, sometimes from themselves.******
It's here!, although not law, qualifications have change which is more or less the same thing.
|
True, but they simply changed back to the qualifications that were in place in the past. It is the change in (loan) qualifications that created this whole mess - developors, builders, Fannie/Freddie, lenders would not have been able to do what they did without relaxed lending standards. "Qualifications" change only comes from politicians; to regulators and are more or less forced on entities to implement (like Freddie and Fannie). Of course, mortgage brokers are gleeful when Qualifications are lowered, as are developers and builders and if they don't jump on the bandwagon - they are toast in the marketplace.
It's all about the politicians, specifically Democrat politicians.