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RETHINKING THE CRA – MEGAN MCARDLE

In answer to your question, CRA never made anybody make a no-interest or teaser rate loan, knowingly use faulty appraisals, not verify income, or make loans at 100% LTV or more in a bubble market. ... I'm also w/ Rob Lyman -- I can see how regulation along the lines of "everyone has to put up 20 % down/score 650 on their credit reports/have an income of 3 times 30 year mortgage payments before they get a mortgage " could have averted problems
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