Didn't see it posted, please lock if I missed it somehow... Mortgage brokers are crying foul because they feel like they will be taking a major hit for the sub-prime mess going on. According to the this article , more than half of all African American homeowners in the U.S. have subprime loans . So the blame game continues...crazy when everyone involved are to blame. Unfortunately we all suffer the consequences. PS: Can we please not turn this into a thread about racism? Thanks.
I think part of the problem is greedy lenders, part of the problem is consumers not doing any work at all. I think the new law should be good for everyone, it also protect the lenders to a certain degree by making it harder for them to give out bad loans which in the end will harm the industry itself.
