Executives should be held accountable

[dennis in se pa]

Not at all the same. These people were/are crooks looking to get over on the system, not people who were following the rules and doing what was expected. This is not a grey area. These people deserve to be in jail.

[idontknow]

Originally Posted by dennis in se pa

I find it interesting how many people respond to posts that don't understand them.

I'm sorry. I saw boobs bouncing in your avatar and lost my concentration. As in real life I suspect people who tried to pay attention to what you wrote, couldn't. That's why you see the off topic responses. It's all your fault, really.

Steven

[RWebb]

hope everyone realizes that is a distortion of what really happened


also - 2/3 of the people who have sub-prime loans actually were qualified for normal, lower interest, lower fee loans! we clearly want to go after loan brokers in those cases

last i heard the fbi had two different investigations going on the big bank/ins. houses

[Rick Lee]

Originally Posted by RWebb

also - 2/3 of the people who have sub-prime loans actually were qualified for normal, lower interest, lower fee loans! we clearly want to go after loan brokers in those cases

last i heard the fbi had two different investigations going on the big bank/ins. houses

Why is it wrong to put someone in a subprime loan who could get an A paper loan? Isn't it up to the borrower to shop around? If I can get a better rate from my credit union, but go with the builder's lender, does that make the builder a criminal for not turning me away?

Of all the subprime loans I originated, I never saw one that could could have gone A paper. When you have a FICO in the low 600's, no documentable income and no cash for a down payment, believe me, you don't qualify for anything better than subprime. My own boss got a subprime loan for his big house. As a 100% commission income guy, he'd have had to average two years of tax returns minues expenses to qualify in an A paper loan. He didn't want to bother, though he made almost enough in a year as the house cost. So he did a stated income, 100% loan. He could have gotten A paper but didn't want to. Is that criminal? Are lenders required to give someone their rock bottm price every time? How about car dealers? Airlines? Why can I get a ticket for $300 sitting next to someone who pauid $600 for the same flight?