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Originally Posted by Arne
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really? the video has nothing to support the assertion that the mortgage crisis is a result of the cra.
it is also incorrect in tying franklin raines to the obama campaign, and in the clear connection that cra loans are sub-prime loans.
can you show where the cra required lenders to issue mortgages to borrowers with bad credit?
where is a definition of bad credit that equates to lower income or minority borrowers?
if the crisis is rooted in the cra, why are these foreclosed homes not concentrated in minority areas that the cra is focused on?
in discussing the cra why even mention non-bank lenders, the primary writers of the mortgages to sub-prime credit borrowers, who were not even governed by the cra?
with sub-prime or alt-a mortgages only about a fifth of all mortages, why ignore the other contributors to the mess such as option arms, no income verification loans and 100% financing loans (none of which were even mentioned in the cra)?
as is said, garbage in garbage out, and that video is based on garbage.