Re: Pressure on banks 2 make high risk loans 2 borrowers w/ poor credit: WHAT YEAR did it start & WHO started?

Answers:1   |   LastUpdateAt:2012-09-24 09:30:03  

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YW paper
Asked at 2012-09-23 04:10:03
The real estate / housing debacle with the U.S. credit crisis now in part because of the people who began pressuring banks to make loans that banks could fall into problems detected ( subprime mortgages ) , as borrowers were borrowing too much relative to their income , had bad credit , or were buying a house too big for your budget . This led to the popularization of subprime mortgages that eventually collapsed , as some felt prudent lenders would and could never have done if not for the pressure they were being subjected to make more loans to almost anyone wanting entering a house . MedlinePlus MedlinePlus So who was that started this great idea? Who began to pressure banks to do this ? Was a president ? He was the head of an organism? It was groups like ACORN activist community ? I think the pressure comes from several sources , but I need to know who was the most responsible , and when I had to start doing this so that spread like a rash ugly throughout the mortgage market and led to the crisis we are in today .
Answer1kenzAnswered at 2012-09-24 09:30:03
Ok , so the CRA was signed by Jimma Cata and lending standards were relaxed by Clinton . MedlinePlus Early in the Bush administration spoke of tightening mortgage loans Fannie and Freddie , but said there was no problem with the loans ? MedlinePlus Barney Frank and Chris Dodd who benefited from lax lending policies .
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