Mortgage Quotes - Page 9

• After the risky mortgage-lending practices fostered by government intervention led to massive defaults and foreclosures that caused financial institutions to collapse or be bailed out, Congressman Frank changed his tune completely.

  Thomas Sowell

  Government, Practice, Tunes

  Thomas Sowell (2011). “Dismantling America and Other Controversial Essays (Large Print 16pt)”, p.21, ReadHowYouWant.com

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• Riskier mortgage lending practices, imposed by government, were what set the stage for many mortgage payments to stop and thus for the financial disasters that followed. Political rhetoric, echoed in the media, seeks to obscure that painfully plain fact.

  Thomas Sowell

  Government, Media, Practice

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• Securities based on risky mortgages are what toppled financial institutions but it was the government that made the mortgages risky in the first place, by making home-ownership statistics the holy grail, for which everything else was to be sacrificed, including commonsense standards for making home loans.

  Thomas Sowell

  Home, Government, Holy Grail

  Thomas Sowell (2011). “Dismantling America and Other Controversial Essays (Large Print 16pt)”, p.44, ReadHowYouWant.com

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• No one pushed harder than Congressman Barney Frank to force banks and other financial institutions to reduce their mortgage lending standards, in order to meet government-set goals for more home ownership. Those lower mortgage lending standards are at the heart of the increased riskiness of the mortgage market and of the collapse of Wall Street securities based on those risky mortgages.

  Thomas Sowell

  Wall, Home, Heart

  Thomas Sowell (2011). “Dismantling America and Other Controversial Essays (Large Print 16pt)”, p.42, ReadHowYouWant.com

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• Both HUD and the Department of Justice began bringing lawsuits against mortgage bankers when a higher percentage of minority applicants than white applicants were turned down for mortgage loans. A substantial majority of both black and white mortgage loan applicants had their loans approved but a statistical difference was enough to get a bank sued.

  Thomas Sowell

  Black And White, Differences, Justice

  Thomas Sowell (2011). “Dismantling America and Other Controversial Essays (Large Print 16pt)”, p.163, ReadHowYouWant.com

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• President Lyndon Johnson's administration was known for his War on Poverty. President Obama's will become notable for his War on Prosperity. We're speaking, of course, of Obama's plans to hike income taxes on the most wealthy 2 or 3 percent of the nation. He's not just raising the top rate to 39.6 percent; he's also disallowing about one-third of top earner's deductions, whether for state and local taxes, charitable contributions or mortgage interest. This is an effective hike in their taxes by an average of about 20 percent.

  Dick Morris

  War, Average, President

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• One third of the $15 trillion of mortgages in existence in 2008 are owned, or securitized by Fannie Mae, Freddie Mac, Ginnie Mae, the Federal Housing and the Veterans Administration. Wall Street buyers of repackaged loans didn't mind buying risky paper because they assumed that they would be guaranteed by the federal government: read bailout from the taxpayers. Today's housing mess can be laid directly at the feet of Congress and the White House.

  Walter E. Williams

  Wall, White, Feet

  Walter E. Williams (2015). “American Contempt for Liberty”, p.47, Hoover Institution Press

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• The same with the mortgage brokers that were selling people mortgages they couldn't afford. We shouldn't pay them on each mortgage they write. They should have what they call "skin in the game," where they've got to reimburse us if the guy who sold the mortgage defaults.

  Richard Thaler

  Writing, Should Have, Games

  Source: bigthink.com

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• Maybe you'll take the cash out. So a credit card company or a bank that goes into the business of saying we're going to be the broker, we're going to sell you a mortgage that you're going to be able to pay off, we're going to help you reduce your credit card debt, we're going to help you save for retirement, we're going to put you into mutual funds that have low fees rather than high fees.

  Richard Thaler

  Retirement, Credit, Debt

  Source: bigthink.com

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• Sometimes markets err big time. Markets erred when they gave America Online the currency to buy Time Warner. They erred when they bet against George Soros and for the British pound. And they are erring right now by continuing to float along as if the most significant credit bubble history has ever seen does not exist. Opportunities are rare, and large opportunities on which one can put nearly unlimited capital to work at tremendous potential returns are even more rare. Selectively shorting the most problematic mortgage-backed securities in history today amounts to just such an opportunity.

  Michael Burry

  Opportunity, America, Erring

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• What our economy needs is direct job creation by the government and mortgage-debt relief for stressed consumers. What it very much does not need is a transfer of billions of dollars to corporations that have no intention of hiring anyone except more lobbyists.

  Paul Krugman

  Jobs, Government, Stressed

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• Evidently there is no need for delay, no need for further study, if the government takes a loss and Wall Street makes a profit, but it is absolutely necessary to delay if homeowners might have a chance to cut their mortgages and stay in their homes. This is wrong, and it is time to fight back!

  Elizabeth Warren

  Wall, Home, Fighting

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• I love money, and I love movement. I like what it has let me do for my family. I have paid off my mum and dad's mortgage, I've bought them two BMWs, they can have anything they want. I am buying a fleet of cars for myself. I have unemployed my sisters, they don't need to work, don't need to worry about a thing.

  Conor McGregor

  Dad, Bmw, Two

  Source: www.gq-magazine.co.uk

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• The financial collapse of 2008 got its start with predatory mortgages, that weren’t sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way.

  Elizabeth Warren

  Zero, Night, Community

  "Elizabeth Warren: Our Populist Agenda — In Her Own Words" by Roger Hickey, www.huffingtonpost.com. January 4, 2015.

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• People who can't afford their mortgages and have to renegotiate with the bank or something gets repossessed after you worked your whole life. You follow the rules and you do the right thing and you still get screwed. That's what I think a lot of Americans are.

  Seth Gordon

  Thinking, People, Whole Life

  Source: collider.com

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• Same reason why young women on juries are not a good idea, they don't get it. They're not in that same life experience of paying the bills, doing the mortgage, kids, community, crime, education and health care. They're like healthy and hot and running around without a care in the world... I just think, excuse them, so they can go back on Tinder and Match.com.

  Kimberly Guilfoyle

  Running, Kids, Thinking

  "Fox News' Kimberly Guilfoyle Caught in Controversy After Comments About Tinder, Young Women Voters" by Lorena O'Neil, www.hollywoodreporter.com. October 23, 2014.

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• No. It is not acceptable that the 6 largest financial institutions in this country have assets of almost 10 trillion dollars, and issue half of the mortgages and two-thirds of the credit cards. That is too much wealth and power in the hands of a few. If Teddy Roosevelt were alive today he'd tell us to 'break them up.' And he'd be right. These huge banks must be broken up.

  Bernie Sanders

  Country, Issues, Hands

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• I think Obama has redefined the Democratic Party. It used to be the party of acid, amnesty, and abortion, and now it's surrender, socialism, and subprime mortgages.

  Ann Coulter

  Party, Thinking, Abortion

  "Ann Coulter and Pat Caddell on Vice Presidential Debate". "Hannity & Colmes" with Alan Colmes, www.foxnews.com. October 3, 2008.

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• It is better that you live in a one-room garret with a leaky roof, than live in a large house, the mortgage payments of which are causing your colon to turn cancerous!

  Stuart Wilde

  House, Rooms, Payment

  Stuart Wilde (1998). “The Trick to Money is Having Some”, p.21, Hay House, Inc

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• We go to church buildings that still have a mortgage. Which means the bank owns God's house. Which means that we go and make love to God in a house that Satan owns!

  Eddie Long

  Mean, House, Making Love

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• Student debt is crushing the lives of millions of Americans. How does it happen that we can get a home mortgage or purchase a car with interest rates half of that being paid for student loans? We must make higher education affordable for all. We must substantially lower interest rates on student loans. This must be a national priority.

  Bernie Sanders

  Crush, Home, Car

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• We must fundamentally restructure our student loan program. It makes no sense that students and their parents are forced to pay interest rates for higher education loans that are much higher than they pay for car loans or housing mortgages.

  Bernie Sanders

  Car, Parent, Pay

  "Sanders Calls for Higher Ed Funding Revolution". www.sanders.senate.gov. February 17, 2015.

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• U.N. officials said today they desperately need $7 billion to help people cope with disasters, but they're having a hard time getting people to send rescue money. Here's what the UN should do: Invest in bad mortgages, run a bank into the ground, give yourself a bonus, get some spa treatments and, in no time, the government will send you $750 billion.

  Jay Leno

  Running, Hard Times, Government

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• The federal government... announced a plan to spend, like, a trillion of taxpayer dollars to buy out bad mortgages and debt. Wall Street was surprisingly enthusiastic about the plan to save their (butts) with other peoples' money. It was either that, or Sarah Palin's idea to sell it all on eBay.

  Bill Maher

  Wall, Government, Ebay

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• I tend to go with things people need. Obviously with the barbershop, people will need haircuts regardless of the economy. In a down economy, I choose businesses that don't require a lot of start-up cash or a cash injection on a regular basis. They might need some initially, but not often after. Rental of properties is a good business in a down economy as people struggle with mortgages.

  Kamerion Wimbley

  Struggle, People, Needs

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