2009-04-06ml-implode.com

Amazingly, public records show that Ameridream and Nehemiah actually lobbied against legislation that would have allowed FHA to create a zero down-payment pilot program. Not only did they lobby against legislation for 100% FHA financing, they actually testified that 100% financing might be too risky for FHA. In doing so, they've inadvertently provided some of the best and most authoritative arguments against their own, arguably-fraudulent programs to get borrowers "free homes" insured by the FHA.



Comments:

ILOVEFHA at 20:52 2009-04-06 said:
They did not lobby against FHA 100% financing because it was to risky or bad for FHA. It was bad for their bottom line. They did this before they knew their own fate. If FHA had a 100% program then there was no need for them. Permalink
Randall at 20:55 2009-04-06 said:
They did not lobby against FHA 100% financing because it was to risky or bad for FHA. It was bad for their bottom line. They did this before they knew their own fate. If FHA had a 100% program then there was no need for them.
So basically then, they would lobby in any direction and say anything that suited their profitable interests?

(Oops! Shame on me) Permalink

dirk2290 at 21:30 2009-04-06 said:
OMG......here we go again.......the horse is dead, stop beating it over and over and over and over and over and over.......we get it, we get your stance......please stop beating the dead horse. It truly is a broken record..... Permalink
Lisa11 at 02:52 2009-04-07 said:
It was bad for their bottom line. They did this before they knew their own fate. If FHA had a 100% program then there was no need for them.

Lisa11 Permalink

Do_the_math at 12:25 2009-04-07 said:
OMG......here we go again.......the horse is dead, stop beating it over and over and over and over and over and over.......we get it, we get your stance......please stop beating the dead horse. It truly is a broken record.....
The horse is not dead until the SFDPA companies stop lobbying to bring it back.

The fact that I have written extensively about SFDPA, the providers, and the ultimate impact on the FHA fund and economy, does not diminish the information that I continually uncover.

The fact that I chose to use some of my time in community service to expose the lobbying and fake "grassroots" efforts of the SFDPA providers and those that benefit financially from SFDPA should be an example for others to open their eyes and become active. Permalink

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