Tuesday, June 23, 2009

Did the CRA contribute to the financial crisis?

One man's solution is another one's problem:
Defenders of the CRA have tried to maintain that the law didn't require lenders to adopt lax lending standards that characterized the boom years.

Unfortunately, that's just not true. The CRA led directly to lending practices that included extremely low to nonexistent down payments, outrageous loan to value ratios and other "innovations" that later became some of the best predictors of defaults and foreclosures.

Posted by at

2 comments:

  1. Performing NotesJuly 20, 2011 at 4:50 PM

    Performing Notes for sale with excellent information and pricing. It is available throughout the nation.

    ReplyDelete
  2. Non Performing NotesJuly 21, 2011 at 12:14 PM

    Non Performing Notes for sale with excellent information and pricing. It is available throughout the nation.

    ReplyDelete

Subscribe to: Post Comments (Atom)