anonymous5189 Wrote:
Dec 28, 2012 6:44 PM
you are so right. I was a mortgage loan officer for a small bank for 30 yrs. and we were very conservative with our lending. Then CRA was brought in and lo and behold , our bank hired a black woman to be our CRA officer (mandated by the govt) and I was then forced to lend to people who I never would have approved. If I didn't make a number of loans to minorities I was written up. It's no surprise to me that the market went down the toilet. I knew with these people who were doing 125% loans with hardly any money down that it was a recipe for disaster. I finally quit in 2007 and took early retirement. Meanwhile I paid my bills and did the right thing and these same people are being forgiven their debt.........what an upside down universe