MadCapitalist wrote: The empirical results say otherwise.The underwriting guidelines for CRA loans would suggest that CRA loans couldn't possibly be the culprit.No stated incomeNo stated assetNo negative amortizationNo prepay penaltyNo interest onlyFully documented income and assets30 year fixed or 5 year fixed programs onlyCredit must be established; "alternative" credit acceptable (utility bills or other verified monthly obligations all paid on time)How in the world the accusers of CRA loans arrived at that conclusion is beyond me. I guess they've gotta blame it on something.
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