A no money down mortgage still has to have under writing scrutiny. You are like most leftist/progressives, using the fallacy of the undistributed middle to promote your deceptions. Blaming Bush for poorly run underwriting just because he promoted no money down mortgages is a typical Obama whine. The property to be under written is a collateral. With poor underwriting work, the property combined with the income history should be not Bush's responsibility but the banking under writeting responsibility. Obama deception troops will increase their DNC disease efforts at FR no doubt, but you have just outed yourself.
- A no money down mortgage still has to have under writing scrutiny.
Then why did so many of them default?
- You are like most leftist/progressives,
Uh,no. Bush-Rove’s easy lending policies — with your tax money — is what’s “leftist/progressive”
I guess in your mind, to criticize Bush makes one a “leftist”. That’s the problem with the Bush years. His liberal policies were given a pass by so many in the GOP - folks like you who support people, not principles - and the result was economic disaster, and the election of Barry.