Stefan MolyneuxVerified account

Community Reinvestment Act

In fact a majority of the defaults that contributed to the housing crisis we're white people who borrowed more than they could afford

Literally a racial mandate.

Community Reinvestment Act. A quick look over shuts his argument down.

You are insane if you think that the primary reason for the housing crisis had to do with race and I am almost embarrassed to have followed you in the past if you really believe it did...

Source for that claim?

Source?

As someone in the industry, the expansion of credit to lower FICO scores was based primarily on profit, not community lending standards, which did not dictate the crazy underwriting standard in subprime, which were bet against by the same institutions creating them. #truth

And if you really want to get deep, they did set up minorities to buy these mortgages, many times knowing they would not be able to refinance a 2 year fixed rate/ ARM to blame the crisis on them. Illuminati 101. Divide and Conquer.

Lawyer Barack Obama sued on behalf of one black woman after she was turned down twice for a mortgage, due to her bad credit including current delinquencies. She complained that her feelings were hurt. She won. Obama was awarded a ridiculous amount of attorney fees.