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<blockquote data-quote="av8torntn" data-source="post: 909422" data-attributes="member: 8259"><p>I see what you are doing now. Funny.</p><p></p><p>Your only definition for a subprime loan is interest. If you use any reasonable means to define what a subprime loan is your argument would not work.</p><p></p><p> <span style="font-family: 'LegacySerif'">We have made, and continue to make,significant adjustments to our mortgageloan sourcing and purchase strategiesin an effort to meet these increasedhousing goals and the sub-goals. Thesestrategies include entering into somepurchase and securitization transactionswith lower expected economic returnsthan our typical transactions. We havealso relaxed some of our underwritingcriteria to obtain goals-qualifyingmortgage loans and increased ourinvestments in higher-risk mortgagesthat are more likely to serve the bor-rowers targeted by HUD’s goals andsubgoals, which could increase ourcredit losses.</span></p><p> <span style="font-family: 'LegacySerif'">—Fannie Mae 10-K, May 2, 2007 </span></p><p><span style="font-family: 'LegacySerif'"></span></p><p>In the real world all the money that was floating around came from the government.</p><p></p><p>Subprime lending started off as a good idea – helping Americans buy homes who couldn’t previously afford to.-Barak H. Obama 2007</p><p></p><p></p><p></p><p></p><p>Once again if a bank wanted to grow it had to show that it complied with the CRA regulations. <span style="font-family: 'TimesNewRoman'">12 U.S.C.A. ßß 2902(3) and 2903. <span style="font-size: 12px">The CRA exists to force banks to make loans that are a little more risky. The Boston Fed did a study that showed that your redlining was basically non existent so there is no way that could be the reason for the CRA.</span></span></p><p></p><p>Here the HUD secretary bragging of forcing banks to make risky loans. I would qualify these as subprime even though the government buys these loans to keep the interest rate lower than the market would normally bear. I fully understand that you want as narrow as possible of a definition for a subprime loan to make your case.</p><p></p><p><a href="http://www.youtube.com/watch?feature=player_embedded&v=PFlYmLAMbrw#" target="_blank">Andrew Cuomo: CRA Should be Abused to Force Banks to Give Risky Loans - YouTube</a>!</p><p></p><p></p><p><span style="font-family: 'LegacySerif'"></span></p><p> <span style="font-family: 'LegacySerif'"></span></p></blockquote><p></p>
[QUOTE="av8torntn, post: 909422, member: 8259"] I see what you are doing now. Funny. Your only definition for a subprime loan is interest. If you use any reasonable means to define what a subprime loan is your argument would not work. [FONT=LegacySerif]We have made, and continue to make,significant adjustments to our mortgageloan sourcing and purchase strategiesin an effort to meet these increasedhousing goals and the sub-goals. Thesestrategies include entering into somepurchase and securitization transactionswith lower expected economic returnsthan our typical transactions. We havealso relaxed some of our underwritingcriteria to obtain goals-qualifyingmortgage loans and increased ourinvestments in higher-risk mortgagesthat are more likely to serve the bor-rowers targeted by HUD’s goals andsubgoals, which could increase ourcredit losses.[/FONT] [FONT=LegacySerif]—Fannie Mae 10-K, May 2, 2007 [/FONT] In the real world all the money that was floating around came from the government. Subprime lending started off as a good idea – helping Americans buy homes who couldn’t previously afford to.-Barak H. Obama 2007 Once again if a bank wanted to grow it had to show that it complied with the CRA regulations. [FONT=TimesNewRoman]12 U.S.C.A. ßß 2902(3) and 2903. [SIZE=3]The CRA exists to force banks to make loans that are a little more risky. The Boston Fed did a study that showed that your redlining was basically non existent so there is no way that could be the reason for the CRA.[/SIZE][/FONT] Here the HUD secretary bragging of forcing banks to make risky loans. I would qualify these as subprime even though the government buys these loans to keep the interest rate lower than the market would normally bear. I fully understand that you want as narrow as possible of a definition for a subprime loan to make your case. [URL="http://www.youtube.com/watch?feature=player_embedded&v=PFlYmLAMbrw#"]Andrew Cuomo: CRA Should be Abused to Force Banks to Give Risky Loans - YouTube[/URL]! [FONT=LegacySerif] [/FONT] [/QUOTE]
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