Clocker
05-15-2014, 01:19 AM
As the nation struggles through a long and painful recovery from the "Great Recession", caused to a great extent by government policies of loose mortgage lending standards, the Obama administration has decided that now is the time to loosen mortgage lending standards (http://www.aei-ideas.org/2014/05/obama-to-loosen-lending-standards-to-boost-home-ownership-what-could-go-wrong/). The policy changes will focus on low income home buyers.
The Obama administration and federal regulators are reversing course on some of the biggest postcrisis efforts to tighten mortgage-lending standards amid concern they could snuff out the fledgling housing rebound and dent the economic recovery. On Tuesday, Mel Watt, the newly installed overseer of Fannie Mae and Freddie Mac, said the mortgage giants should direct their focus toward making more credit available to homeowners, a U-turn from previous directives to pull back from the mortgage market.
Insanity is repeating the same action while expecting a different outcome. But hey, you never know until you try.
The Obama administration and federal regulators are reversing course on some of the biggest postcrisis efforts to tighten mortgage-lending standards amid concern they could snuff out the fledgling housing rebound and dent the economic recovery. On Tuesday, Mel Watt, the newly installed overseer of Fannie Mae and Freddie Mac, said the mortgage giants should direct their focus toward making more credit available to homeowners, a U-turn from previous directives to pull back from the mortgage market.
Insanity is repeating the same action while expecting a different outcome. But hey, you never know until you try.