Why does he not believe in personal responsibility?
1) personal responsibility to pay your debt
2) personal responsibility to buy a home you can afford
3) personal responsibility to read loan documents and not sign on
something you dont understand?

Now if the Mortgage Banker commited fraud, i.e signed the papers themselves, then they should go to prison

But if for instance, the Banker puts down on the loan docs that you make $10k per month, and you make $2k per month, then you sign that document, and right next to the signiture it says “i swear everything on this document is accurate, under penalty of law”…. YOU NOT ANYONE ELSE IN THE WORLD ARE AT FAULT.

NOW, I run a company that services bad loans… You would be shocked at how people are… The day the loan closes, they shake your hand with tears in their eyes, thanking you for taking the chance, then 2 months later when they dont make their 1st payment, they yell at you for taking advantage of them….. Also more people than you think sign for mortgages for a relative who has bad credit, then learns why that relative has bad credit, the hard way… Also what would surprise most folks are the # of people who thought they would make a fortune “FLIPPING” properties, so went out and bought 4-5 houses on the same day, before the credit bureau could updat, and looked clean…. then 2 mos later all are in default…

Now i know there are some hard luck stories out there, but in the billion dollare portfolio i oversee, it is 10% or less of the portfolio…
My company bought these loans for 10 cents on the dollar
OBAMA just said 10 minutes ago “I want to stop all foreclosures”