Pathetically ironic
- Thread starter Spirited
- Start date
Freddy Figbottom
Was it me?
It's true. Being a brainwash victim isn't a crime, but it often leads to genocide.
Like I said....not even a hint of intelligent thought anywhere....snide insults and name calling.....
The Dunce never disappoints us with rational responses or adult arguments about the topic.....just the same old lame bullshit.....
Says the guy navy guy who never agrees with democrats
Yes they did shit-for-brains. But you're too stupid to comprehend this because you're a dimwit that cannot distinguish even simple things like the difference between "your" and "you're".
Dear dimwit, please note the date and source of this news story:
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
Published: September 30, 1999
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html
MORE:
Equal Credit Opportunity Act
The Equal Credit Opportunity Act (ECOA) is a United States law (codified at 15 U.S.C. § 1691 et seq.), enacted in 1974, that makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction, on the basis of race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract);[1] to the fact that all or part of the applicant’s income derives from a public assistance program; or to the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The law applies to any person who, in the ordinary course of business, regularly participates in a credit decision, including banks, retailers, bankcard companies, finance companies, and credit unions.
Failure to comply with the Equal Credit Opportunity Act's Regulation B can subject a financial institution to civil liability for actual and punitive damages in individual or class actions. Liability for punitive damages can be as much as $10,000 in individual actions and the lesser of $500,000 or 1% of the creditor’s net worth in class actions.[2]
Community Reinvestment Act
The Community Reinvestment Act (CRA, Pub.L. 95–128, title VIII of the Housing and Community Development Act of 1977, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.[1][2][3] Congress passed the Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining.[4][5]
The Act instructs the appropriate federal financial supervisory agencies to encourage regulated financial institutions to help meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation (Section 802.) To enforce the statute, federal regulatory agencies examine banking institutions for CRA compliance, and take this information into consideration when approving applications for new bank branches or for mergers or acquisitions (Section 804.)[6]
If you're too stupid to research for yourself, I can add hundreds if not thousands of other factual stories to support my claims as opposed to your dullard one liners.
Yes, you really are THAT incredibly stupid and uninformed.
Says the dunce who never has anything substantive to post other than trolling one liners and can't distinguish the difference between "your" and "you're".
Yes, you really are THAT stupid and repugnant.
Your post doesn't say what you claim
Uneducated liar
No one claimed they would loan to people with no credit dimwit...and it is "moron" not "more on." God you're an incredible dunce.
Carry on dimwit; you really are THAT stupid and repugnant.
Yes it does dimwit; but you're too painfully stupid to comprehend the OBVIOUS let alone distinguish between "your" and "you're" and "more on" and "moron".
Yes, you are a dunce and really THAT incredibly stupid and repugnant.
I wish I could laugh at your repugnant stupidity; but it is more deserving of pity that someone can be so incredibly retarded and unable to comprehend the English language, economics, reality and the truth.
Carry on dimwit; it is painfully obvious you never made it past grade school.
I’m not disrespecting a veteran because of his ideological leanings; I am disrespecting a lying leftist dimwit who now wants to use his veteran status as some form of crutch in an effort to avoid the truth, the facts and honest debate.
Yes, you are THAT pathetic and stupid.
This coming from a rabid lunatic who spams political forums with repugnant insulting nonsense; you're quite the nut case dimwit.
Most klansman like you didn't go or are ashamed of the tiny pissant school.
All the normal people on here talk about their colleges
Grand wizard
No they weren't shit-for-brains; they were requiring everyone meet same level of credit standards white folks had to meet. But you're an incredibly stupid dimwit stuck on moron with the reading comprehension of a third grader.
Those standards were lowered much like the standards for getting into college based on nothing more than the color of one’s skin. It is a racist dullard view that can only be held by lefttards who arrogantly presume blacks are too stupid to meet the same standards of white people.
Why do Liberals think blacks are too stupid to get along without Government programs and lowered standards?
Yes, we know dimwits like you are the REAL clansman who wants to keep those colored folks on the plantation of Liberal Government dependence; it ensures a reliable voting block doesn't clansman?
Black youth unemployment is higher today than any time in our history; thank you Mr. Obama; you really DO care more than anyone else on the planet.
I have to laugh that you think a repugnant dimwit like you is "normal." The only thing "normal" about you is that you are a poster child of stupidity and ignorance that constitutes the low information voters the DNC needs to stay in power dimwit.
I have never shied from talking about where I graduated; that would be Cal State Fullerton dimwit.
It doesn't matter where you claim you got yours, it is apparent that you only made it through grade school based on the poor grammar and spelling you spam the forum with and the unadulterated ignorance that constitutes your political views.
Cal state Fullerton building management
What a dogshit school
You must have been out of place you fucking cubicle hillbilly