Far left socialism, from Obama/warren and the left!

[007]

Wow!
New mortgage rules proposal, you cannot borrow more than 43% of your income!

It's part of their all property is theft mentality.
Renting is good enough for the next generation, for preference, renting government owned housing stock!

Freedom no more.

 

[Howey]

What a great idea! One that would have helped ten years ago when Bush allowed predator lending!

 

[Timshel]

Source?

Limits for us and not for the government? What's up with that?

 

[Howey]

Source?

Limits for us and not for the government? What's up with that?

Here: (pdf)

It's about time.

 

[The Dude]

This dumbass immigrant is clueless about finance'

 

[Timshel]

Wow!
New mortgage rules proposal, you cannot borrow more than 43% of your income!

It's part of their all property is theft mentality.
Renting is good enough for the next generation, for preference, renting government owned housing stock!

Freedom no more.

Your synopses of it is confused. DTI of 43% does not mean you can only borrow 43% of your income.

Does this limit only affect those borrowing through government programs?

 

[Howey]

Your synopses of it is confused. DTI of 43% does not mean you can only borrow 43% of your income.

Does this limit only affect those borrowing through government programs?

no.

 

[Timshel]

no.

Well, f that then. The federal government should have no right to insert itself between private borrowers and lenders.

 

[The Dude]

Well, f that then. The federal government should have no right to insert itself between private borrowers and lenders.

Threedork, also financially illiterate

 

[Rationalist]

Well, f that then. The federal government should have no right to insert itself between private borrowers and lenders.

You're talking to Howey. He does not believe in liberty.

 

[Bonestorm]

Well, f that then. The federal government should have no right to insert itself between private borrowers and lenders.

All the 43% ratio (and other factors) does is create a presumption that the mortgage is a "qualified mortgage," which will give the lender protection against a lawsuit by a borrower who sues the bank. It doesn't mean that banks can't give a person a loan where the 43% ratio is not met.

 

[I'm Watermark]

I have yet to be shown any connection between these borrowing restrictions and socialism.

 

[SmarterthanYou]

What a great idea! One that would have helped ten years ago when Bush allowed predator lending!

you mean when clinton threatened the banks if they didn't lend?

 

[wanderingbear]

Well, f that then. The federal government should have no right to insert itself between private borrowers and lenders.

Thats so big loan company’s and banks can take their time in fleecing their sheep..I mean customers.

 

[007]

What a great idea! One that would have helped ten years ago when Bush allowed predator lending!

As instructed by the CRA?
The government mandate ordering banks to give mortgages to people who can't afford them!

A mortgage of 43% of your income?

Tha average income earner in the USA would be restricted to purchasing a home valued at $43000.

Yup, you can buy a great home for $43 grand!!

Liberal war on workers!

 

[007]

This dumbass immigrant is clueless about finance'

Your cult ordered banks to make dodgy loans under the CRA.