The Mortgage Order Mills (MOMs) have been praying at the altar of Satan … more delinquencies and foreclosures needed … badly. The mortgage segment has dried up … the MOM offices are empty. Where have all of the delinquencies and foreclosures gone? It may be that the Federal Government … HUD … may help Satan answer the prayers of the MOMs and crash the housing market.
The administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.
… administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.
The year 2008 was the start of a great 6-year run for the MOMs. It’s time to go back to 2008. HUD will help lead the way to another housing crash.