Unfortunately, throughout the housing crisis we’ve seen innocent homeowners who have been victims of shady mortgage lenders and unscrupulous individuals who have used a down market to line their own pockets at the expense of others. This bill is designed to send a message by revising our laws to ensure criminals are brought to justice and that law enforcement has the tools to uncover these fraudulent schemes and go after the bad actors. Criminals should be put on notice that ripping off homeowners and taxpayers won’t be tolerated.
"We will not, on the altar of money, mortgage our conscience, mortgage our faith, mortgage our salvation."peter jasper (archbishop) akinola
House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals, including robust growth in jobs and incomes, low mortgage rates, steady rates of household formation, and factors that limit the expansion of housing supply in some areas.ben bernanke
The crash of 2008 was driven in no small part by unfair practices in the mortgage industry, which led to many consumers becoming trapped in loans they didn’t understand and couldn’t afford.al franken
American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.Alan Greenspan
I was aware that the loosening of mortgage credit terms for subprime borrowers increased financial risk. But I believed then, as now, that the benefits of broadened home ownership are worth the risk.Alan Greenspan
Incredibly, at this critical juncture in financial history, after which so much changed so quickly, the only constraint in the subprime mortgage market was a shortage of people willing to bet against it.michael lewis
It is better to have a plain, substantial building, with no extravagance about it, but without a debt, than to have the most splendid specimen of Gothic architecture that is overlaid by a mortgage.william mackergo taylor
You know, I am mainstream America, and it really doesn't matter what party you're in. When you call your children and you say 'How are you?' - and what you are really asking is, 'Do you still have your job? And are you able to make the mortgage payment?', That resonates across the state, not across party lines.sharron angle
Reckless people have deluded themselves that this was a subprime crisis. But we have problems with credit-card debt, student-loan debt, auto loans, commercial real estate loans, home-equity loans, corporate debt and loans that financed leveraged buyouts... We have a subprime financial system, not a subprime mortgage market.nouriel roubini
When you have investment companies losing billions of dollars over something like bundled subprime loans, then you have to consider whether it's important. You probably also want to think about paying off that third mortgage.
First in point of time and interest comes the mortgage debt, i.e. the claim for the return of money lent on the security of some tangible object. Such claims are among the earliest fruits of a commercial civilization, and are nearly always affected the same way, viz. by the deposit or pledge of the security with the creditor, to be redeemed or returned on the payment of the debt.
This is America. How many of you people want to pay for your neighbor's mortgage that has an extra bathroom and can't pay their bills?
Old Care has a mortgage on every estate, And that's what you pay for the wealth that you get.john godfrey saxe
First in point of time and interest comes the mortgage debt, i.e. the claim for the return of money lent on the security of some tangible object. Such claims are among the earliest fruits of a commercial civilization, and are nearly always affected the same way, viz. by the deposit or pledge of the security with the creditor, to be redeemed or returned on the payment of the debt.edward jenks
The US its bankrupt mortgage institutions nationalised and its gigantic war machine effectively funded by foreign borrowing is in steep decline. With its financial system in the worst mess since the 1930s, the west's ability to shape events is dwindling by the day. Sermonising about "law-based international relations" is laughable after Iraq, and at bottom not much more than nostalgia for a vanished hegemony.john n. gray
No man can mortgage his injustice as a pawn for his fidelity.Edmund Burke