[chadbaud]

I agree with you about protecting the public, no one needs to be coddled.

But when parties enter into a transaction, there should be repercussion in the case of fraud. That never happened. One party in a transaction was lied to and there was no repercussion to the other party.

Also, thanks for taking the time to respond, really enjoy debating this topic. Wish it could be in more real time.

[hueving]

Individual loan applicants weren't defrauded though (in most cases). They knew what the monthly payments were and what would happen during possible interest rate adjustments.

It shouldn't have been a shocker to anyone making 2k a month that a 1.9k/mo mortgage was pretty risky.