Last week, I read where the U. S. House of Representatives passed a bill to reform mortgage lending practices; one of its provisions would require that lenders determine the loan could be repaid by the borrower. Apparently, lenders didn't care that borrowers would be unable to repay -- the borrower would just refinance the loan, generating new loan origination fees in a giant ponzi scheme.
I hope that the companies that produced these deceptive, fraudulent, predatory loans fail.
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