Why They Hate Obama

There are 12486 comments on the The Daily Beast story from Aug 8, 2013, titled Why They Hate Obama. In it, The Daily Beast reports that:

As the Virginia Flaggers loft their Confederate flag in opposition to the 'tyranny' of 2013, Jamelle Bouie argues that racial bias plays at least some part in Obama's collapse in the South.

Join the discussion below, or Read more at The Daily Beast.

Since: Feb 11

Location hidden

#6260 Jan 21, 2014
EasyEed wrote:
<quoted text>
"bareassed0000"
Wipe your asz the crap you are spewing really stinks.
The trucker is ringing your bell, EasyFag.

No time to keep him waiting.

Wipe your chin first.

SMD.
Eric Gustafson

Newport News, VA

#6261 Jan 21, 2014
Notice how the author of this misleading garbage is using "Lending Institution" and not the term Bank?

That's because Banks, are Chartered Depository Institutions regulated by the FDIC and require compliance with CRA, where as Mortgage Firms aren't regulated by any federal agency and are likely to push predatory loans and loan pooching to jack up Origination Fees for the Mortgage Companies.

A sub-prime loan is any loan that the purchaser gets to buy a home that does not require 20% down payment. Sub Prime loans pay higher origination fees to the mortgage broker. So, mortgage are rewarded more for placing consumer in sub prime loans than provided them access to better loans with lower rates which many of them qualified for.

It is the greatest of American motivations........ Greed!!!!
dont snow me wrote:
<quoted text>
Wise up;
http://www.sjsu.edu/faculty/watkins/subprime....
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San José State University
Department of Economics
The Nature and the Origin
of the Subprime Mortgage Crisis
"In the 1990's under the administration of Franklin Raines, a Clinton Administration appointee, Fannie Mae began to demand that the lending institutions that it dealt with prove that they were not redlining. This meant that the lending institutions would have to fulfill a quota of minority mortgage lending. This in turn meant that the lending agencies would have to lower their standards in terms of such things as down payments and the required incomes. These subprime borrowers would be charged a higher interest rate. Having put the lending agencies into the position of granting subprime mortgages Fannie Mae then had to accept lower standards in the mortgages it purchased. That set the ball rolling. If a bank granted a mortgage to a borrower that was not likely to successfully pay off the mortgage then all the bank had to do was to sell such mortgages to Fannie Mae. The banks typically earned a loan origination fee when the mortgage was granted. The lending agencies could then make substantial profits dealing in subprime mortgages.
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Because Fannie Mae and Freddie Mac made a market for subprime mortgages the lenders did not have to worry about of the soundness of the mortgage contract they wrote. Thus the lenders could write the mortgages as adjustable interest rate mortgages knowing full well that an upturn in the interest rates could easily throw the borrower into insolvency. For example, when the interest rate is 6 percent the mortgage payment for a 30-year $200,000 mortgage is $1199 per month. If the interest rate goes up to 7 percent the mortgage payment would increase by $131 per month, an 11 percent increase. For many of the subprime borrowers living on the edge of insolvency this would be enough to push them over the edge. The guilt for the subprime mortgage financial crisis lies both with the lenders who knowingly put borrowers into booby trapped mortgages and the management of Fannie Mae and Freddie Mac for making a market for such booby trapped mortgages thus giving the lenders the incentive for writing them. "
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"Because Fannie Mae and Freddie Mac made a market for subprime mortgages the lenders did not have to worry about of the soundness of the mortgage contract they wrote."
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This is why we have a financial crisis and dems own it 100%

Since: Feb 11

Location hidden

#6262 Jan 21, 2014
dont snow me wrote:
A twice accused rapist
Right.

Accused by someone who admitted she lied under oath, SnowJob.

Wipe your chin, you are leaking DNA from your last Boulder client.
Eric Gustafson

Newport News, VA

#6263 Jan 21, 2014
I've explained this many times on topix in the most remedial way I can imagine. Some of you would rather believe the fairy tale and turn a blind eye on the truth.

HUD in 2003 was forced by Bush, as a means to promote his "ownership society" to accept more sub prime loans. Sub prime loans were not the problem but unethical mortgage brokers, and Secondary Mortgage Security brokers from wall street engineered the disaster.

Mortgage made money originating the mortgages, us to 4% of the loan value to keep in their pockets, and the securities brokers made commission on selling those packaged mortgage in the secondary market to investors.

Billions in fees were made coming and going on mortgages.
benson

Richmond, VA

#6264 Jan 21, 2014
dont snow me wrote:
<quoted text>
God hates you, that';s why yur black, Buckwheat.
You are an apostate.....God hates sin, not ppl.
Its obvious you know nothing about God.
Your mother is black...what does that make you Sambo!!!
benson

Richmond, VA

#6265 Jan 21, 2014
Anonymous of Indy wrote:
<quoted text>according to the orginal doctrine of mormonism and the orginal book of mormon what your saying is true.
http://en.wikipedia.org/wiki/Black_people_in_...
The founder of mormonism(moronism) is cut from the same cloth as Hitler(hitlerism). Cain was not black and he wasn't cursed either. If anything, you white barbarians are cursed.......strongly put!!!!!!!!!
If Noah didn't have a problem having a black son...whats your malfunction. Besides...Noah and his wife and his three sons and their wives repopulated the earth after the "great" flood. If God hated black folk, why did He not destroy Ham during the flood. Check it out for yourself.....from the loins of Noah came forth all the races that we have today after the flood.
benson

Richmond, VA

#6266 Jan 21, 2014
inbred Genius wrote:
<quoted text>
Reagan was better than Carter. Carter was better than Obama...Carter cared, but was a dipshit.....Obama is dangerous, he plans to fundamentally change the US. Already has
Obama is dangerous to you whites......i suggest y'all move to Mars.
benson

Richmond, VA

#6267 Jan 21, 2014
dont snow me wrote:
<quoted text>
I'm not a mormon.
"I'm not a mormon"......then you must be a moron.

“no one told me”

Since: Dec 07

Denver

#6268 Jan 21, 2014
Eric Gustafson wrote:
<quoted text>
Mortgage companies don't hold on to individual mortgages until satisfied.
They make the loans, collect origination fees for their services from the Consumer and sale the loans to Investment brokers. If you had a mortgage you would not be surprised when the note changes hands.
Mortgage companies make a profit in providing a mortgage to the end user, and make a profit selling the note in the secondary mortgage market. Everything a Mortgage company does they do with an eye on their profit from the mortgage.
Banks didn't make the loans, they purchased those loans, as long term investments from swindler mortgage brokers on Wall Street.
It's only been a discussion for 5 years and some of you have remained willfully ignorant to the process. What is pathetic is you're on the internet and could have reviewed the secondary mortgage process.
You are so clueless yur comical.

“no one told me”

Since: Dec 07

Denver

#6269 Jan 21, 2014
benson wrote:
<quoted text>
"I'm not a mormon"......then you must be a moron.
Well, i'm white and proud of it, Buckwheat.

“no one told me”

Since: Dec 07

Denver

#6270 Jan 21, 2014
Eric Gustafson wrote:
I've explained this many times on topix in the most remedial way I can imagine. Some of you would rather believe the fairy tale and turn a blind eye on the truth.
HUD in 2003 was forced by Bush, as a means to promote his "ownership society" to accept more sub prime loans. Sub prime loans were not the problem but unethical mortgage brokers, and Secondary Mortgage Security brokers from wall street engineered the disaster.
Mortgage made money originating the mortgages, us to 4% of the loan value to keep in their pockets, and the securities brokers made commission on selling those packaged mortgage in the secondary market to investors.
Billions in fees were made coming and going on mortgages.
source?

“no one told me”

Since: Dec 07

Denver

#6271 Jan 21, 2014
barefoot2626 wrote:
<quoted text>
Right.
Accused by someone who admitted she lied under oath, SnowJob.
Wipe your chin, you are leaking DNA from your last Boulder client.
Still typing and getting teabagged, what a talent, fartsack.

“no one told me”

Since: Dec 07

Denver

#6272 Jan 21, 2014
Eric Gustafson wrote:
Notice how the author of this misleading garbage is using "Lending Institution" and not the term Bank?
That's because Banks, are Chartered Depository Institutions regulated by the FDIC and require compliance with CRA, where as Mortgage Firms aren't regulated by any federal agency and are likely to push predatory loans and loan pooching to jack up Origination Fees for the Mortgage Companies.
A sub-prime loan is any loan that the purchaser gets to buy a home that does not require 20% down payment. Sub Prime loans pay higher origination fees to the mortgage broker. So, mortgage are rewarded more for placing consumer in sub prime loans than provided them access to better loans with lower rates which many of them qualified for.
It is the greatest of American motivations........ Greed!!!!
<quoted text>
Are you in a mental institution, Like Fartsack?
Frank

Spokane, WA

#6274 Jan 21, 2014
Eric Gustafson wrote:
I was there, Carter had a lower unemployment rate than Reagan, Reagan was reelected with a 7% unemployment rate.
Carter had to deal with run away inflation, a hold over from the Nixon Administration policies where Nixon put in price and wage freezes. Reagan stopped unemployment from rising by spending after raising taxes 11 different times.
Clinton was the president with the best expansion of the American Economy in the last 50 years. And he managed that while supplying budget surpluses.
<quoted text>
Carter was almost as incompetent as Obama and Clinton was almost as corrupt as Obama. Neither one of them blamed others for all their failures as much as Obama,but Clinton could lie almost as good as Obama..
Eric Gustafson

Newport News, VA

#6275 Jan 21, 2014
What are the Conventional Down Payment Requirements?

Conventional Loans require the home buyer to invest at least 5%- 20% of the sales price in cash for the down payment and closing costs. If the sales price is $100,000 for example, the home buyer must invest at least $5,000 -$20,000.

Adjustable rate loans - With a conventional adjustable rate mortgage (ARM), the initial interest rate and monthly payments are low, but these may change during the life of the loan. Conventional Loans mainly use the Constant Maturity Treasury Index (CMT) or the London Interbank Offered Rate Index (LIBOR) to calculate the changes in interest rates.

Definition of a Subprime Loan, According to the FDIC

Subprime borrowers have a hard time qualifying for auto loans, mortgages and other types of financing.

And even if they do qualify, they usually end up with a ridiculously high interest rate. It’s not the kind of club you want to be in.

The problem is that subprime loans and borrowers have been poorly defined in the past. You could ask ten different mortgage lenders for a definition of “subprime” and get ten different answers.
xxxrayted wrote:
<quoted text>
No, no, no.
The bank basically has two types of loans: Prime mortgages where the bank uses their own money, and subprime loans where the bank makes the loan and sells it off.
Subprime means exactly as the word says: Under prime. It has nothing to do with the down payment. Subprime loans are used for people that couldn't qualify for prime mortgages. Because they are higher risk borrowers, they are subject to Adjustable Rate Mortgages.
Subprime mortgages were created at the end of the Carter administration. The supposed intent was to give homeowners the ability to purchase their new home first, and then worry about selling their former home later. After selling their former home, they would be able to convert their subprime mortgage on their new home back into a standard fixed rate mortgage.
Throughout the years, subprime mortgages were manipulated for lower income and lower credit score borrowers. These mortgages now had little to do with buying a new home first.
Eric Gustafson

Newport News, VA

#6276 Jan 21, 2014
dont snow me wrote:
<quoted text>
source?
Source????

You have to be kidding, Reread the post you copied and pasted above.. That information tells you the same that I havei been saying, get someone smarter than you, who you trust to read and interpret the post for you.
Eric Gustafson

Newport News, VA

#6277 Jan 21, 2014
There were no consumer credit scores prior to 1987 so it was impossible to review a credit score of a consumer under the Carter, and most of the Reagan Administration.

Adjustable Rate Mortgages are conventional mortgages, in the cases where they require 5 to 20% down payments.

I thought you owned properties?
xxxrayted wrote:
<quoted text>
No, no, no.
The bank basically has two types of loans: Prime mortgages where the bank uses their own money, and subprime loans where the bank makes the loan and sells it off.
Subprime means exactly as the word says: Under prime. It has nothing to do with the down payment. Subprime loans are used for people that couldn't qualify for prime mortgages. Because they are higher risk borrowers, they are subject to Adjustable Rate Mortgages.
Subprime mortgages were created at the end of the Carter administration. The supposed intent was to give homeowners the ability to purchase their new home first, and then worry about selling their former home later. After selling their former home, they would be able to convert their subprime mortgage on their new home back into a standard fixed rate mortgage.
Throughout the years, subprime mortgages were manipulated for lower income and lower credit score borrowers. These mortgages now had little to do with buying a new home first.

Since: Nov 08

Location hidden

#6278 Jan 22, 2014
Eric Gustafson wrote:
<quoted text>
Bush pressured Alphonso Jackson to direct HUD to accept mortgages from Private Mortgage Firms.which opened HUD to purchasing loans from anyone holding a note on a home.
Any property owner who held a mortgage on one of his properties could then sale that mortgage to HUD who packages those loans for sale as securities. Never before could a property owner sale his paper to HUD before Bush beat back the requirements.
FHA mortgages, or those mortgages that qualify for federal guarantees are assumable loans........ a seller could have a qualified purchasers just assume payments and move on. That's the benefit of having a FHA qualified mortgage.
Home builders, and Realtors got Bush to change the criteria.
Gosh, if you could only prove it.

Since: Nov 08

Location hidden

#6279 Jan 22, 2014
Eric Gustafson wrote:
There were no consumer credit scores prior to 1987 so it was impossible to review a credit score of a consumer under the Carter, and most of the Reagan Administration.
Adjustable Rate Mortgages are conventional mortgages, in the cases where they require 5 to 20% down payments.
I thought you owned properties?
<quoted text>
Your post is a joke again. No there wasn't scores like today, but that is not to say software didn't grade a credit application by job, time on job, income, debt to income and loan to value of the purchase. GMAC had that for years.

Since: Nov 08

Location hidden

#6280 Jan 22, 2014
benson wrote:
<quoted text>
Obama is dangerous to you whites......i suggest y'all move to Mars.
Record 20% of Households on Food Stamps in '13...

Wall Street Advisor: Actual Unemployment is 37.2%...

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