"Fugitive financier arrested at U.S. border""My name is Christopher Jared Warren, and in 2001 I was hired as a 19 year old to become a sales AccountExecutive for ACC Capital Holdings subsidiary, the now infamous “Ameriquest MortgageCompany”. Over the next three years of employment, I became the shining star of “portfolio retention”, a predatory division that would specialize in refinancing home owners who JUST gotloans from Ameriquest in the last 24 months. I was the number one producer in the region...""...as a 19 then 20 year old boy, my managers and handlers taught me the ins and outs of mortgage fraud, drugs, sex, and money, money, and more money. My friend and manager handed out crystal methamphetamine to loan officers in a bid to keep them up and at work longer hours. At any given moment inside the restrooms - cocaine and meth was being snorted by my estimates more than a third of the staff, and more than half the staff manipulating documents to get loans to fund and more then 75% just completely made falses tatements on 1003s regarding stated income etc to get loans funded. A typical welcome aboard gift was a pair of scissors, tape, and white out, three things a loan officer or financial professional should never need.."
http://www.freerepublic.com/focus/news/2184646/posts?page=8#8
So, my guess is that you or some you know used their home as an ATM and is getting screwed.
I am sorry about that.
But you are falling prey to the standard crap from the left. The bankers that work hard to generate mortgages and small business loans have kept this country going. You can fill the pages here with stories such as this. But there are millions in the industry. And vast, vast majority are ethical and hard working.
The thing that got us into this problem, throughout the economy, was greed and jealousy. We would see idiots come in and try to mortgage the last nickel out of their equity to buy a car. Long term finance of short term expenses is always a bad idea.
And now, folks like you that got burned by your greed are jealous that people who work hard and are smart, are making money even in a down market.
I feel bad for you. Oh, wait. No I dont.