Re: Feds prepare to make Major Changes Soon
I agree with Big Toe. This is a knee jerk response to an institutional problem involving lax underwriting guidelines... Specifically, Countrywide's Fast and Easy program and other limit doc "Bold Face Lie about your income" loans.
If the Federal Government wants to tighten up the mortgage industry then train their package reviewers to catch mortgage fraud...
How many landscapers or maids actually make $150,000?
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