All you citizens who work hard and pay your bills on time … SUCKERS! In an orchestrated assault on the credit standards underpinning mortgages, no fewer than four Obama agencies have gone to war against FICO. If politicians don’t want another bank crisis, they’ll stop the attack. Home loan approvals hinge on FICO credit scores. But the Obama regime views FICO scoring as too strict, cutting off millions of low-income
liar loans
January 15, 2016
Obama is such a giver! Subprime 2.0 to be joined with Credit Score Inflation! [Darleen Click]
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,