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January 9, 2016
January 9, 2016
Obama’s parting gift to America: Subprime 2.0! What could possibly go wrong? [Darleen Click]
Welcome to 2007 … Subprime 2.0: The White House is rolling out a new low-income mortgage program that for the first time lets lenders qualify borrowers by counting income from nonborrowers living in the household. What could go wrong? The HomeReady program is offered through Fannie Mae, which is now controlled by Obama’s old Congressional Black Caucus pal Mel Watt. It replaces the bankrupted mortgage giant’s notorious old subprime program,