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briansd1.
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April 19, 2011 at 11:07 AM #688864April 19, 2011 at 12:58 PM #687737
bearishgurl
Participant…Mortgage originators who serve rural and underserved areas would be allowed to give out loans with balloon payments.
“This option is meant to preserve access to credit for consumers located in rural or underserved areas where creditors may originate balloon loans to hedge against interest rate risk for loans held in portfolio,” the Fed said in a statement…
I disagree with the above provision. Borrowers in these areas are the LEAST able to keep their properties (of ALL borrowers) when faced with a balloon payment.
This is the ultimate dumbest idea I’ve heard in a long while.
April 19, 2011 at 12:58 PM #687794Participant…Mortgage originators who serve rural and underserved areas would be allowed to give out loans with balloon payments.
“This option is meant to preserve access to credit for consumers located in rural or underserved areas where creditors may originate balloon loans to hedge against interest rate risk for loans held in portfolio,” the Fed said in a statement…
I disagree with the above provision. Borrowers in these areas are the LEAST able to keep their properties (of ALL borrowers) when faced with a balloon payment.
This is the ultimate dumbest idea I’ve heard in a long while.
April 19, 2011 at 12:58 PM #688413Participant…Mortgage originators who serve rural and underserved areas would be allowed to give out loans with balloon payments.
“This option is meant to preserve access to credit for consumers located in rural or underserved areas where creditors may originate balloon loans to hedge against interest rate risk for loans held in portfolio,” the Fed said in a statement…
I disagree with the above provision. Borrowers in these areas are the LEAST able to keep their properties (of ALL borrowers) when faced with a balloon payment.
This is the ultimate dumbest idea I’ve heard in a long while.
April 19, 2011 at 12:58 PM #688554Participant…Mortgage originators who serve rural and underserved areas would be allowed to give out loans with balloon payments.
“This option is meant to preserve access to credit for consumers located in rural or underserved areas where creditors may originate balloon loans to hedge against interest rate risk for loans held in portfolio,” the Fed said in a statement…
I disagree with the above provision. Borrowers in these areas are the LEAST able to keep their properties (of ALL borrowers) when faced with a balloon payment.
This is the ultimate dumbest idea I’ve heard in a long while.
April 19, 2011 at 12:58 PM #688904Participant…Mortgage originators who serve rural and underserved areas would be allowed to give out loans with balloon payments.
“This option is meant to preserve access to credit for consumers located in rural or underserved areas where creditors may originate balloon loans to hedge against interest rate risk for loans held in portfolio,” the Fed said in a statement…
I disagree with the above provision. Borrowers in these areas are the LEAST able to keep their properties (of ALL borrowers) when faced with a balloon payment.
This is the ultimate dumbest idea I’ve heard in a long while.
April 19, 2011 at 2:40 PM #687768briansd1
GuestWhile the financial reform bill is not the best, it’s a good step in the right direction.
It’s better than doing nothing. I’m glad that we now have a consumer protection agency.
I think the main emphasis should be selling simple, easy-to-understand financial services to those with low incomes and lower education.
The more sophisticated products such as pick-a-pay, balloon loans, negative amortization mortgages should be only available to those with higher incomes and better credit histories.
April 19, 2011 at 2:40 PM #687828GuestWhile the financial reform bill is not the best, it’s a good step in the right direction.
It’s better than doing nothing. I’m glad that we now have a consumer protection agency.
I think the main emphasis should be selling simple, easy-to-understand financial services to those with low incomes and lower education.
The more sophisticated products such as pick-a-pay, balloon loans, negative amortization mortgages should be only available to those with higher incomes and better credit histories.
April 19, 2011 at 2:40 PM #688445GuestWhile the financial reform bill is not the best, it’s a good step in the right direction.
It’s better than doing nothing. I’m glad that we now have a consumer protection agency.
I think the main emphasis should be selling simple, easy-to-understand financial services to those with low incomes and lower education.
The more sophisticated products such as pick-a-pay, balloon loans, negative amortization mortgages should be only available to those with higher incomes and better credit histories.
April 19, 2011 at 2:40 PM #688586GuestWhile the financial reform bill is not the best, it’s a good step in the right direction.
It’s better than doing nothing. I’m glad that we now have a consumer protection agency.
I think the main emphasis should be selling simple, easy-to-understand financial services to those with low incomes and lower education.
The more sophisticated products such as pick-a-pay, balloon loans, negative amortization mortgages should be only available to those with higher incomes and better credit histories.
April 19, 2011 at 2:40 PM #688938GuestWhile the financial reform bill is not the best, it’s a good step in the right direction.
It’s better than doing nothing. I’m glad that we now have a consumer protection agency.
I think the main emphasis should be selling simple, easy-to-understand financial services to those with low incomes and lower education.
The more sophisticated products such as pick-a-pay, balloon loans, negative amortization mortgages should be only available to those with higher incomes and better credit histories.
April 19, 2011 at 2:50 PM #687773njtosd
Participant[quote=briansd1] . . .
It’s better than doing nothing. I’m glad that we now have a consumer protection agency.
. . . [/quote]
You may argue about how well it does it’s job, but we have long had the Federal Trade Commission (FTC), whose dual responsibilities are basically antitrust and consumer protection.
April 19, 2011 at 2:50 PM #687833Participant[quote=briansd1] . . .
It’s better than doing nothing. I’m glad that we now have a consumer protection agency.
. . . [/quote]
You may argue about how well it does it’s job, but we have long had the Federal Trade Commission (FTC), whose dual responsibilities are basically antitrust and consumer protection.
April 19, 2011 at 2:50 PM #688450Participant[quote=briansd1] . . .
It’s better than doing nothing. I’m glad that we now have a consumer protection agency.
. . . [/quote]
You may argue about how well it does it’s job, but we have long had the Federal Trade Commission (FTC), whose dual responsibilities are basically antitrust and consumer protection.
April 19, 2011 at 2:50 PM #688591Participant[quote=briansd1] . . .
It’s better than doing nothing. I’m glad that we now have a consumer protection agency.
. . . [/quote]
You may argue about how well it does it’s job, but we have long had the Federal Trade Commission (FTC), whose dual responsibilities are basically antitrust and consumer protection.
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