Wednesday, January 30, 2013
Insanity, or, America in 2013
New mortgage rules issued last week by the administration will have the effect of forcing lenders to approve prime loans to borrowers who would normally only qualify for subprime loans carrying higher interest rates and fees to cover the added risk of default. Read More At IBD: http://news.investors.com/ibd-editorials-perspective/011413-640522-cfpb-denies-high-cost-lenders-legal-shield.htm#ixzz2JRgqhwgl what could go wrong? The banks can just bundle these risky loans and sell them to someone else, right?