Posted by Hal on 10/5/2008, 8:24 pm, in reply to "In addition..."
70.250.124.251
Ray,
What law was that?
I know a guy (he is not from a minority group and his credit rating is good)who applied for a loan several years ago and they approved him for a loan that was much bigger than he could afford. He refused their offer. From what I have read this kind of practice was what caused the bulk of the problem. The system was biased toward giving people loans that they could not afford. People got a commission for making the loan. After the loan was made it was sold to someone else and the person or company that made the loan lost accountability for their actions.
Hal
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