Loan Officer Snitches on Regime (Hussein government still pushing subprime mortgages - RDA)

Rush Limbaugh .com ^ | 4/20/10 | The Maha

[Libloather]

Loan Officer Snitches on Regime
April 20, 2010

BEGIN TRANSCRIPT

RUSH: Carol in Olympia, Washington. Welcome to the EIB Network. Nice to have you here.

CALLER: Thanks, and mega dittos, Rush --

RUSH: Thank you.

CALLER: -- from a truly reformed Democrat. I am an escrow officer, and I close purchases and mortgage loans, and the government is now telling us that the banks, the private sector banks are not allowed to do no-down-payment loans anymore, that a person has to come in with a certain amount because that's what the evil banks have been doing, but the government is doing those loans. They're called RDA loans, rural development. In our county -- I'm actually south of Olympia -- is all considered rural, and so people come in, and they are low-income loans, they can buy a house with absolutely no skin in the game, as they say, and sometimes they get money back, and they have subsidized payments over their life of the loan --

RUSH: So essentially the affordable housing scam is still going full speed ahead?

CALLER: Oh, sure it is, oh, sure it is and they're not talking about that too much --

RUSH: No of course. So you cannot make no money down loans at your bank?

CALLER: And I'm not a lender, I am an escrow officer. I close them.

RUSH: Right.

CALLER: But, no, a bank could not, you're correct.

RUSH: Yeah. But the government can?

CALLER: Yes, the government can.

RUSH: Well, now, where are you gonna go, if you are a rural Democrat American, and you want to buy a house, and the private sector bank in your town will not lend you any money because they're not allowed, makes you hate the bank, "They don't trust me," you go to Obama, you go to the regime's bank and they give you this loan and you forever are grateful.

CALLER: It comes from the Obama stash, you know.

RUSH: Yeah, comes from Obama's stash.

CALLER: That's correct.

RUSH: We laugh.

CALLER: And then they subsidize the payments as well.

RUSH: Oh, of course.

CALLER: Yes.

RUSH: Oh, yeah, subsidize the payments. That's the whole point. It's not fair that some people shouldn't be able to have a house.

CALLER: That's correct and these are not -- you know, I just closed one recently, and it was not a cheap house. It was reasonable for our county, it was a reasonably priced house, so, you know, it was pretty nice.

RUSH: Well, I'm glad you called and reported this. Thank you very much, Carol.

CALLER: Somebody's gotta keep 'em honest, you know?

RUSH: No, that's not possible.

CALLER: You're doing your best, Rush, and we appreciate it.

RUSH: Keep the focus on their dishonesty and their tactics and so forth is all we can do. But I'm glad you called.

END TRANSCRIPT

[Libloather]

Housing is a right. So is fluoridated water. And Sosha Security.

[Jet Jaguar]

Bump

[EagleUSA]

Anything to buy votes. And destroy our capitalist system and economy.

[piytar]

Meanwhile, legit small and even midsized businesses can’t get basic operating loans. Gee, why would the be? Maybe because sub-prime leaches are dependent on the fedgov and vote donk, while small and midsize entrepeneurs are trying to be self-sufficient, which is the exact opposite of what the national socialist democr@ps want? Nah, can’t be, that would be corrupt. /SARC

[dalereed]

“And Sosha Security.”

What’s that?

[Libloather]

What’s that?

If you don't know, you aren't old enough.

[dalereed]

Guess not, i’m only 73.

[Pontiac]

Rural Development programs are delivered through our Utilities Programs, which address rural America's need for basic services such as clean running water, sewers and waste disposal, electricity, and telecommunications; our Housing Programs, which address rural America's need for single-family and multi-family housing as well as health facilities, fire and police stations, and other community facilities, and; our Business Programs, which provide help to rural areas that need to develop new job opportunities, allowing businesses and cooperatives to remain viable in a changing economy. We also have Community Development Programs that operate special initiatives to demonstrate effective community development techniques and address unique and pressing economic development issues.

President Obama strongly believes that all Americans should have access to safe, decent, affordable housing. USDA’s housing programs have a vital role to play in achieving the president’s vision in rural communities across the country, where housing needs are significant and where communities face unique challenges. I am committed to working tirelessly to improve our programs and expand their reach so that more and more Americans can benefit from housing opportunities provided through USDA.

Great this is USDA program of all things.

The Rural Development Administration (RDA) was created in 1991 by Congress as a new agency within the U.S. Department of Agriculture (USDA). The new agency is expected to take a leading role to improve the lives of the millions of people who live and work in our rural areas and to provide overall leadership to USDA's rural development effort. This effort will initially be addressed through the Community and Business Programs (C&BP) formerly administered by Farmers Home Administration (FmHA). For Fiscal Year 1993, Congress appropriated funds to establish the RDA National Office and seven Regional Offices. Until the additional field office structure within RDA is established, the C&BP Programs will continue to be delivered to the public through the FmHA State and District Office structure. The Regional Office will provide oversight for these offices.