Obama & Acorn forced banks to give subprime loans?

Yes and just recently the Obama campaign paid $832,598 to ACORN to facilitate their Project Votes initiative. ACORN has a long history of voter fraud and is currently under investigation in several states for voter fraud.

Democrats and organizations like ACORN forced Fannie Mae, Freddie Mac and Banks to meet a quota of sub-prime mortgages or pay big penalties. So to comply with their quotas they made mortgages affordable by using schemes like:

"100 percent financing . . ."

"No down payment . . ."

"Interest only loans . . ."

"No income . . .

"No job . . ."

"No assets . . ."

"No credit scores . . ."

"Low credit scores . . ."

"No SSN required . . ."

"ITIN identification accepted . . ."

"Undocumented income . . . even if you don't report it on your tax returns . . ."

There was no question that the lenders were threatened with charges of violating the CRA if they didn't make home loans to people with poor credit ratings. Community activist groups like ACORN patrolled the lenders to make sure that unqualified buyers could get loans. When Obama was a lawyer/community activist he represented ACORN and sued Fannie Mae to reduce the requirements for getting mortgages. So the lenders complied and loaned to high risk buyers. As any banker will tell you, your credit rating determines your interest rate. So these high risk buyers wound up with adjustable rate mortgages (ARMs).

No,no,no....

ACORN is a community-organization group that deals in Voter fraud to throw elections. Obama was the #2 recipient of Fannie/Freddie money..that part is true. The Democrats had more than 2 years to do something about the subprime-mortgage crisis,but due to Democrats like Maxine Waters and Barney Frank saying there was no need to do it,we are in the situation we're in now.

Yes he helped plenty. The following paragraph is the 10th paragraph of the article I've sourced.

"ONE key pioneer of ACORN's subprime-loan shakedown racket was Madeline Talbott - an activist with extensive ties to Barack Obama. She was also in on the ground floor of the disastrous turn in Fannie Mae's mortgage policies."

Not only for making them loan to bad customers but Obamee pulled a Jesse Jackson on Freddie Mac and shook em down for a few mil. In the criminal community it's called "Light Work."

properly - the frenzy to have banks provide loans to those who could no longer coach their skill to pay off the debt began with the Carter administration. the frenzy grew to become into reinforced throughout the Clinton years. PRE-President Barak Obama, as a "community organizer" incredibly could have been "encouraging" people who could no longer have adequate money to pay decrease back loans to exploit the rigidity from D.C. to grant such loans to the communities he grew to become into working for. uncertain if his involvement in this, or something else, grew to become into the reason of him being *asked* to now no longer prepare regulation. i assume the two he and Michele ought to sparkling the air approximately that... shall we seem of their information, different than the 1st piece of legislations that President Obama signed grew to become into an govt Order sealing his information. bypass discern.

Here is the truth and a better answer to your question.http://www.youtube.com/watch?v=1RZVw3no2A4&feature...

him,dodd ,shuemer barney frank,pelosi reid etc.they fought all legislation to stop them.

False.

Amber... you dumbazz!