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Lawmakers battle over consumer mortgage agency

0 Comments Published October 2nd, 2009 in News.

Republicans and Democratic lawmakers clash over a proposal to create a new Consumer Financial Protection Agency, which would wrest key authority over mortgages and credit cards from the Federal Reserve and other bank regulators.

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« Singapore’s GIC investments plunge 20%
Bernanke defends Fed before skeptical lawmakers »
This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

Mortgage Lender Implode-o-Meter






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