lending

Q&A: Is this exactly where the SubPrime Lending Mess got it is start (or boost?) see hyperlink?

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Query by Morey000: Is this exactly where the SubPrime Lending Mess got it’s start off (or enhance?) see hyperlink?
http://www.whitehouse.gov/news/releases/2002/ten/20021015.html

Or is it less complicated just to blame it all on the democrats?
I have to admit, I’m learning more about this mess thanks to the responses right here. Even though the community reinvestment act seems like 1 of the culprits (beneath Andrew Cuomo a dem), the Bush administration re-ratified every thing. So, there’s enough blame to go around both parties.

Ideal answer:

Answer by Charlotte
No

It is less difficult to spot blame correct were it belongs, on the Democrates

What do you believe? Answer under!

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Should lenders who use abusive or unfair lending practices be punished?

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Question by missnewjerzee: Should lenders who use abusive or unfair lending practices be punished?
these are just some examples
Failure to disclose loan price is negotiable
Failure to clearly and accurately disclose terms and conditions
Servicing agent and securitization abuses (The servicing agent is the entity that receives the mortgage payment, keeps the payment records, provides borrowers with account statements, imposes late charges when the payment is late, and pursues delinquent borrowers. A securitization is a financial transaction in which assets, especially debt instruments, are pooled and securities representing interests in the pool are issued)

now it is our responsiblity to read everything on the loan document do you think the lenders should be punished for the way they do business?
oh I agree now isn’t the time, I just mean in general
http://en.wikipedia.org/wiki/Predatory_lending

Best answer:

Answer by Ben
Yes.

What do you think? Answer below!

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