Fannie Mae Rolls Out Easy Mortgage, Catering To High-Risk Immigrants

So it appears that the federal government is implementing another destined-to-default high-risk mortgage plan. This new move is wrong-headed and dangerous, and only places more risk on the heads of American taxpayers and their children. Its simply not credible that those in charge of devising and implementing a program like this don’t see what a huge risk this program really is. At some point a reasonable person could wonder if it’s being done intentionally to help bring about a new “better” economic system. All I know is that the folks in charge seem to be ignoring not only history, but also basic economic principles.

The Obama regime is rolling out a new low-income mortgage program that, for the first time, lets lenders qualify borrowers by counting income generated by non-borrowers living in the household. What could go wrong?

Source: Fannie Mae Rolls Out Easy Mortgage, Catering To High-Risk Immigrants

About the Author: Eric M

Eric uncomfortably admits that until about 15 years ago, he was a political "free rider", always thinking that others would do the heavy lifting to keep America on course. After watching both democrats and republicans steer us FAR in the wrong direction, Eric knew he had to get involved. Now working with Richmond Tea Party to advance conservative principles, Eric serves on the Board of Directors and as a resource for "all things technology".