[Rhodes22-list] Brad - You must be copying in CNN

[Tootle]

Brad:

Lou Dobbs said that ACORN was an Ultra Leftist group and it was leftist in
Congress that had the provision to fund it in the bailout...

I usually do not watch the Communists News Network, but accidents do happen.

Ed K
Greenville, SC, USA



TN Rhodey-2 wrote:
> 
> Brad - I said CRA sub-prime defaults  represented less than 50% of
> sub-prime
> defaults. I hadn't checked in a year or so ....your claim blaing CRA made
> me
> curious . .A quick check shows I was way off.  CRAs actually have
> performed much better than i remembered. They do not perform as welll as
> prime but much better than traditional sub-prime and Alt A.  Do some
> google
> searches on CRA defaults.
> 
>  see link from Slim's paper below. Check out the embedded PDF in the
> article
> for breakdown on CRA loans defaults in top 15 US cities. I don't know
> anything about the paper but the PDF contains data refuting the claim the
> CRA defaults are the problem. I searched hard but could find no claim with
> numbers supporting  your position that CRA was the problem. In fact 
> people
> (mostly politicians) making the claim didn't provide numbers and didn't
> seem
> to know what they are talking about......present company excluded of
> course.
> :-)
> 
> Do you have NUMBERS  to support your claim that CRA loans are the problem?
> 
> http://minnesotaindependent.com/10179/against-all-reason-bachmann-and-others-blame-1977-fair-lending-law-for-adding-to-economic-crisis
> 
>  A quick check also confirmed most of the Sub-Prime Mortgage lenders did
> not
> have to be concerned with CRA. If ones reviews the numbers you can come to
> the conclusion the CRA loans actually have helped keep foreclosures from
> being worse. If these folks were not in a CRA loan they would be in
> typical
> sup-prime ARM with adjustable rates, high fees, and pre-payment penalties.
> 
> A while back there was a  Congressional GAO report breaking down
> foreclosures in every state by type of loan. I will try to find and post.
> The main problems were Alt A Pay Option ARMs, Alt A Stated, Alt A No DOc,
> and Sub-prime stated.
> 
> Wally
> 
> <http://minnesotaindependent.com/10179/against-all-reason-bachmann-and-others-blame-1977-fair-lending-law-for-adding-to-economic-crisis>
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