McStupid: Mortgage Banker's Association
• The Market TickerVIDEO... Do those three things and even in severe recessions you don't have a major problem with defaults. You also don't get speculative property bubbles because as soon as prices try to rise above affordable maximums for the income in a given area the supply of buyers who can meet the ratios disappear. Enact this into the law with a provision that any loan found to be funded outside of these ratios is deemed predatory and subject to rescission and the problem is solved. Anything else is subject to being gamed and is simply an attempt to steal - again - from the taxpayers. These lobbying and "trade" organizations need to be recognized as what they are - a blatant device to game regulatory processes for the purpose of foisting off risk to the taxpayer while pocketing as much money as is possible for private interests. STOP THE LOOTING.