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Facts leading up to the housing bubble that broke our economy; "Just the facts ma'am just the facts"
Topic Started: Dec 21 2013, 04:04 AM (1,980 Views)
Mountainrivers
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Sea Dog
Dec 22 2013, 04:59 AM
"Now how could you possibly know that unless you only sold to your immediate family and friends?'

Foreclosures on homes is very rare here.
Also, many of the buyers that I sold to,
still live in the home.




So, you know all these people and didn't have the kind of scam artists to deal with that the US housing market had.
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Berton
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Pat
Dec 21 2013, 11:51 PM
In your back and forth arguments you guys ignored an important point. The lenders were packaging the loans and selling them to larger bankers who were in turn packaging them and selling them as A rated investments backed by property. There was not interest in the loan originator as to whether the loan would be solid or default, they in many cases had already sold the loans in the secondary market before the buyer took possession of the homes. The loan officers, appraisers, and loan sale force wanted to churn as many loans as possible and extract a much commission as possible.

Because if they didn't do it in low income areas then the Feds would audit them to death.

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colo_crawdad
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Berton
Dec 22 2013, 08:34 AM
Pat
Dec 21 2013, 11:51 PM
In your back and forth arguments you guys ignored an important point. The lenders were packaging the loans and selling them to larger bankers who were in turn packaging them and selling them as A rated investments backed by property. There was not interest in the loan originator as to whether the loan would be solid or default, they in many cases had already sold the loans in the secondary market before the buyer took possession of the homes. The loan officers, appraisers, and loan sale force wanted to churn as many loans as possible and extract a much commission as possible.

Because if they didn't do it in low income areas then the Feds would audit them to death.

I am confident that you can support that assertion with facts from a credible link. Please share with the rest of us.
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Berton
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colo_crawdad
Dec 22 2013, 08:40 AM
Berton
Dec 22 2013, 08:34 AM
Pat
Dec 21 2013, 11:51 PM
In your back and forth arguments you guys ignored an important point. The lenders were packaging the loans and selling them to larger bankers who were in turn packaging them and selling them as A rated investments backed by property. There was not interest in the loan originator as to whether the loan would be solid or default, they in many cases had already sold the loans in the secondary market before the buyer took possession of the homes. The loan officers, appraisers, and loan sale force wanted to churn as many loans as possible and extract a much commission as possible.

Because if they didn't do it in low income areas then the Feds would audit them to death.

I am confident that you can support that assertion with facts from a credible link. Please share with the rest of us.

I already did. If you want to refuse to accept it then that is your problem not mine.

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colo_crawdad
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Berton
Dec 22 2013, 08:41 AM
colo_crawdad
Dec 22 2013, 08:40 AM
Berton
Dec 22 2013, 08:34 AM
Pat
Dec 21 2013, 11:51 PM
In your back and forth arguments you guys ignored an important point. The lenders were packaging the loans and selling them to larger bankers who were in turn packaging them and selling them as A rated investments backed by property. There was not interest in the loan originator as to whether the loan would be solid or default, they in many cases had already sold the loans in the secondary market before the buyer took possession of the homes. The loan officers, appraisers, and loan sale force wanted to churn as many loans as possible and extract a much commission as possible.

Because if they didn't do it in low income areas then the Feds would audit them to death.

I am confident that you can support that assertion with facts from a credible link. Please share with the rest of us.

I already did. If you want to refuse to accept it then that is your problem not mine.

I should have said a credible NEWS source, not an op-ed piece from a right wing blog.
Edited by colo_crawdad, Dec 22 2013, 08:45 AM.
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Berton
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Moving the goal post now? What kind of logical fallacy is that Colo_crawdad?

Oh yes, it is called "special pleading". I think you are also using the "genetic" fallacy.

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colo_crawdad
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So, Berton apparently cannot provide any facts to support his assertion for a credible news source. Okay.
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Neutral
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Links with facts have been supplied on this thread and many many others when the crisis happened. You libs have proved time after time you will not accept facts, why would anyone want to go to the trouble of finding more factual links for you. Clinton, Dodd and Frank are the main culprits and the lenders had no choice.
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Mountainrivers
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Dec 22 2013, 09:10 AM
Links with facts have been supplied on this thread and many many others when the crisis happened. You libs have proved time after time you will not accept facts, why would anyone want to go to the trouble of finding more factual links for you. Clinton, Dodd and Frank are the main culprits and the lenders had no choice.
:bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :hystery: :hystery: :hystery: doglaugh doglaugh doglaugh
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colo_crawdad
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Mountainrivers
Dec 22 2013, 09:45 AM
Neutral
Dec 22 2013, 09:10 AM
Links with facts have been supplied on this thread and many many others when the crisis happened. You libs have proved time after time you will not accept facts, why would anyone want to go to the trouble of finding more factual links for you. Clinton, Dodd and Frank are the main culprits and the lenders had no choice.
:bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :hystery: :hystery: :hystery: doglaugh doglaugh doglaugh
The NEWS article that makes up the OP is the only credible NEWS source on this thread with actual facts. That is probably why Pat labeled the thread: "Facts leading up to the housing bubble that broke our economy."
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