The XBroker - Latest Comments in Me Thinking Home Mortgage Disclosure Act Data is Improperly Skewed

Re: Me Thinking Home Mortgage Disclosure Act Data is Improperly Skewed

Surviving A Recession — Thu, 05 Mar 2009 07:11:38 -0000

It would seem to me that the industry really set itself up for failure. As did the borrowers as well. Why would someone set themselves up to fail. Borrowing several times what you can afford is just foolish. It is amazing how people fool themselves or allow themselves to be fooled into justifying something that they know to be wrong. The HDMA numbers shed light not only on abuses in the mortgage industry but also into the way people think.

Re: Me Thinking Home Mortgage Disclosure Act Data is Improperly Skewed

zubispeak — Tue, 17 Jun 2008 11:04:25 -0000

Jeff, this is a great post and I will look at it from another point of view.
Any policy or rule is only as good , as the people working with them.
As long as the customer is trying to get what he wants, not what he needs or can afford , just because his buddy in a golf club has a bigger house and he wants the same,
there always will be a job for scamers , helping the "blind sheep" to jump off the cliff.
For a fee, of course!!!

Numbers don't lie, only people working with them sometimes do !