Tag Archives: minority borrowers

U.S. About To Sue The Big Banks

The federal agency that oversees Fannie Mae and Freddie Mac is about to sue America’s biggest banks, accusing them of misrepresenting mortgages they sold to Fannie and Freddie. Whether this suit has merit or not, it is further downward pressure … Continue reading

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The Tab Keeps Rising For Funding Fannie Mae, Freddie Mac

Under Bill Clinton, Fannie Mae and Freddie Mac began guaranteeing subprime mortgage loans to subprime minority borrowers. The mortgage meltdown was not the result of a lack of government regulation. It was the direct result of government regulation, regulation that … Continue reading

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Wells Fargo Loses Racial Discrimination Lawsuit

I am sure big banks such as Wells Fargo would be terribly offended by monthly mortgage payments coming in from black people. Oy, they wouldn’t want that? Of course that is ridiculous. If banks can make money lending to minorities, … Continue reading

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Government Forcing Banks To Lend

We got into this housing crisis, in part, because government regulation and political pressure forced banks to lend money to people with low chances of paying it back. If banks didn’t make these loans, they were picketed and their expansion … Continue reading

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Two New York Mortgage Brokers Settle With State

They are charged with using higher fees on minority borrowers. The NYT says 455 black and latino borrowers will receive restitution. That amounts to about $1440 per person. The brokers don’t want to comment and they don’t want to fight … Continue reading

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Are Minorities Responsible For The Subprime Crisis?

Source: By golly, it’s those low-income minorities! Those values have plummeted because borrowers are defaulting on their mortgages at much higher rates — a trend that will likely worsen as the real estate bubble deflates. At the center of the … Continue reading

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Barney Frank & The Mortgage Mess

From the American Thinker: Democrats have a lot to hide about their role in creating the current financial crisis and are doing their best to appear blameless with charges directed elsewhere. Within hours of the fall of their affirmative-action-lending-policies house-of-cards, … Continue reading

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