Comments on: A Change Is In The Market For Subprime Mortgage Loans http://www.kickstartpress.com/mortgage-loans/a-change-is-in-the-market-for-subprime-mortgage-loans Thu, 09 Sep 2010 01:22:59 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: crabby_blindguy3 http://www.kickstartpress.com/mortgage-loans/a-change-is-in-the-market-for-subprime-mortgage-loans/comment-page-1#comment-2762 crabby_blindguy3 Sun, 07 Mar 2010 10:46:59 +0000 http://www.kickstartpress.com/mortgage-loans/a-change-is-in-the-market-for-subprime-mortgage-loans#comment-2762 No,Clinton did not do this. Those agencies are under the authority of Congress--not the president. Congress is the one that changed the rules. A GOP congress.<br><b>References : </b><br> No,Clinton did not do this. Those agencies are under the authority of Congress–not the president. Congress is the one that changed the rules. A GOP congress.
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]]> By: justagrandma http://www.kickstartpress.com/mortgage-loans/a-change-is-in-the-market-for-subprime-mortgage-loans/comment-page-1#comment-2761 justagrandma Sun, 07 Mar 2010 10:44:59 +0000 http://www.kickstartpress.com/mortgage-loans/a-change-is-in-the-market-for-subprime-mortgage-loans#comment-2761 The Republican congress changed them.<br><b>References : </b><br> The Republican congress changed them.
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]]> By: HE IS A MUSLIM http://www.kickstartpress.com/mortgage-loans/a-change-is-in-the-market-for-subprime-mortgage-loans/comment-page-1#comment-2760 HE IS A MUSLIM Sun, 07 Mar 2010 10:42:59 +0000 http://www.kickstartpress.com/mortgage-loans/a-change-is-in-the-market-for-subprime-mortgage-loans#comment-2760 Its called KICKBACK.<br><b>References : </b><br> Its called KICKBACK.
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]]> By: Rikkitikkitavi http://www.kickstartpress.com/mortgage-loans/a-change-is-in-the-market-for-subprime-mortgage-loans/comment-page-1#comment-2759 Rikkitikkitavi Sun, 07 Mar 2010 10:40:59 +0000 http://www.kickstartpress.com/mortgage-loans/a-change-is-in-the-market-for-subprime-mortgage-loans#comment-2759 The same reason why any politician does anything to help a corporation. Money<br><b>References : </b><br> The same reason why any politician does anything to help a corporation. Money
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]]> By: a bush family member http://www.kickstartpress.com/mortgage-loans/a-change-is-in-the-market-for-subprime-mortgage-loans/comment-page-1#comment-2758 a bush family member Sun, 07 Mar 2010 05:38:29 +0000 http://www.kickstartpress.com/mortgage-loans/a-change-is-in-the-market-for-subprime-mortgage-loans#comment-2758 <b>Why Did Bill Clinton Change Mortgage Lending Rules?</b><br>He allowed GSE's (government sponsored enterprises) like Freddie Mac (, etc) to purchase subprime loans that were created by lenders. He basically formally approved subprime lending. It is documented by the FTC (Federal Trade Commission) Clinton's changes: "Freddie Mac, one of the primary government-sponsored enterprises involved in the purchase of mortgages, recently announced plans to enter the secondary market in subprime loans by purchasing significant numbers of "A minus" subprime mortgages by 1998 and the higher-risk "B and C" loans by 1999.(20) " http://www.ftc.gov/os/1998/03/grass5.htm Bill Clinton made the decision. He also appointed the director of the "Office of Federal Housing Enterprise Oversight (OFHEO)" "The federal regulatory body that oversees the government-sponsored entities (GSEs), Freddie Mac and Fannie Mae. It was established as an independent entity within the Department of Housing and Urban Development by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. The OFHEO works to ensure the capital adequacy and financial safety of the two housing GSEs. " http://www.investopedia.com/terms/o/ofheo.asp http://financialservices.house.gov/banking/41097bak.htm "On June 6, 1996, President Clinton announced that he had directed FHA to reduce the up-front mortgage insurance premium (UFMIP) for first-time homebuyers who receive housing counseling" http://www.fha.gov/reference/ml1996/96-48ml.doc Why Did Bill Clinton Change Mortgage Lending Rules?
He allowed GSE’s (government sponsored enterprises) like Freddie Mac (, etc) to purchase subprime loans that were created by lenders. He basically formally approved subprime lending.

It is documented by the FTC (Federal Trade Commission)

Clinton’s changes:
"Freddie Mac, one of the primary government-sponsored enterprises involved in the purchase of mortgages, recently announced plans to enter the secondary market in subprime loans by purchasing significant numbers of "A minus" subprime mortgages by 1998 and the higher-risk "B and C" loans by 1999.(20) "
http://www.ftc.gov/os/1998/03/grass5.htm
Bill Clinton made the decision. He also appointed the director of the "Office of Federal Housing Enterprise Oversight (OFHEO)"
"The federal regulatory body that oversees the government-sponsored entities (GSEs), Freddie Mac and Fannie Mae. It was established as an independent entity within the Department of Housing and Urban Development by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. The OFHEO works to ensure the capital adequacy and financial safety of the two housing GSEs. "

http://www.investopedia.com/terms/o/ofheo.asp

http://financialservices.house.gov/banking/41097bak.htm
"On June 6, 1996, President Clinton announced that he had directed FHA to reduce the up-front mortgage insurance premium (UFMIP) for first-time homebuyers who receive housing counseling"
http://www.fha.gov/reference/ml1996/96-48ml.doc

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