Mortgage Bankers Celebrate Victory

You would think this year's Mortgage Bankers Association annual meeting would be a rather solemn affair -- given the criticism the industry has endured in recent months. But our ANP reporter attending the meeting found the bankers in a celebratory mood. The reason? A massive lobbying campaign against bankruptcy reform legislation known as "cram-down" appeared to be working.

Category:

News & Politics

Tags:

• Bankruptcy Bill
• Bankruptcy Reform
• Dick Durbin
• Durbin
• banks
• Bankruptcy
• banking
• foreclosure
• mortgages
• cramdown
• renegotiate
• John Taylor

[AnnenJosh]

The real problem is that Obama promised to get this bill passed. There is footage of it here on You Tube. Durbin said the White house was silent when he needed help to get the bill passed. They knew the bill was being defeated from bank lobbyists and yet nothing was done...Why?

[ohio1998]

Yup, it's a sad day to be an American.

[fivequotes]

Interesting post.

[jrhd00d84]

Mortgage Bankers Association Strategically Defaulted Mortgage in Washington D.C.

[pjamesbda]

"KEEP GIVING TO THE PACK"....don't know if you heard this. He is talking about holding the line. This is a WAR, and if they keep coming back, eventually the public will SEE they are at war on the people.

Its time to WAKE UP people.

[BadBobMo]

This ass hole owes me lots of money.

He is a Gov. bought and paid for puppet!

[Gizmosra]

Now we have sub prime mortgage brokers who own appraisal managment companies AMC's. The amc profits are driven speed and lowest appraisal fees. The lower the fee the higher the amc profit.

[DonJack1776]

Yay it's a bailout party!

[gokinsmen]

Human leeches. 

Wake up, America. The most dangerous enemies aren't Al-Qaeda terrorists 1000s of miles away. They're these guys and their bought-and-paid-for politicians.

[jwilldoutube]

This vid is reflecting these mortgage bankers in their natural smug state of getting over on people and using political influence to navigate through congress. No matter how many people are losing their homes and choking on debt. YES I judge that is WRONG.

Jesus went crazy mad at the money changers (bankers) in front of the temple - why? Because they were using the guise of the temple as their cover to help others while they were ripping people off. Maybe he was just pissed off...

[Axelrudolph]

Thanks for telling us all what a decent person you are (I am sure you are) we all want to be good people. "For in the same way you judge others, you will be judged, and with the measure you use, it will be measured to you..." I think Jesus said that, Every industry has bad actors, and in time we all pay the price for our deeds, both good and bad, I sleep great every night.

[jwilldoutube]

BTW, everyone (liberals and conservatives) loved subprime lending because it flooded the markets with massive money, and created the housing boom...then it all went boom-boom. Wall street lit the match, Hedgefunds fanned the flames and Lenders poured gas on it.