But Barney Frank likes it

Back in 2005, pre-crash, a mortgage lender got busted because his employees were engaged in mortgage fraud. He wrote a book about it, warning that no-money-down home purchases guaranteed fraud. Sounds sensible, so yesterday’s announcement that Congress and Fannie Mae are teaming up to toss another $35 billion into new, no money down mortgage loans for dead beats makes me wonder whether we’ll see that money again? I think not.

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One response to “But Barney Frank likes it

  1. net worth declining

    Barney Frank is public enemy number one. This will be yet another disaster.