Fed Adopts Plan to Curb Shady Mortgage Practices.

[Edible Napalm]

http://youtube.com/watch?v=MVhBZlrtYlw

The Federal Reserve has adopted rules to give home buyers more protection from the types of shady lending practices that have contributed to the housing crisis and propelled foreclosures to record highs.

[Voss's Tumor]

Not one thing she mentioned in that story will help do a damn thing to fix anything.

All she said is that they're no longer going to allow no-doc loans, and they're going to make it even harder for true real estate investors to make a buck, while making it easier for the mortgage guy to rip him off.

Fuck the Fed. How can they not see that they're the problem?

[d0uche_n0zzle]

With so much bad paper out there, it's kinda like closing the barn door after your critters have run off.

The companies that pushed the 'no-doc' loans and the attorneys that closed these deals need a good talking to, IMO.

[wes mantooth]

Too late fuckos.