First move by Trump to make America Great Again?

[AlaCowboy]

Jan 20, 2017 20:39:22 GMT -5 Walter said:

Jan 20, 2017 20:05:56 GMT -5 AlaCowboy said:

Obama raised those FHA fees 5 times during his presidency. Where were you in denouncing those increases? THE FHA insures loans against default to protect mortgage lenders. Those small fees are the only reserve FHA has before going to the taxpayers for money to cover defaults. Anyone borrowing $200,000 for a home mortgage can easily afford that $500 the first year. If they can't they need to buy a lower cost home.

The FHA came under severe stress after the financial crisis. In 2013, it needed $1.7 billion from the U.S. Treasury, its first bailout in 79 years, due to a wave of defaults. To replenish the FHA’s coffers, the Obama administration several times increased the fees the agency charges. The law requires the FHA’s capital reserve ratio to stay above 2 percent, and the agency hit that level in 2015 for the first time since the bailout.

I'm sure that all those struggling young families who voted for Trump and who were in the process of closing a loan are very happy tonight knowing their new POTUS just cost them that extra money.
They will sleep well knowing that they did their part.
America is a little greater tonight.
On behalf of all Americans, I thank them for their sacrifice.

Never mind that the Obama FED raised rates last month, which drove up mortgage rates, credit card rates, housing costs, etc. Obama said "f-word you for your service. Pay more for everything you buy."
Where was your outrage for that FED hike and the 5 FHA hikes in the last 8 years under Obama? Didn't even care, did you?
By the way, that FHA rate is now 0.85%.

[Deleted]

Jan 20, 2017 23:27:03 GMT -5 mscott59 said:

Jan 20, 2017 23:23:36 GMT -5 @muttmk2 said:

First, we don't know what the long-term effects would be, and neither does Obama.  If this were a problem that needed fixing, why didn't Obama fix it a long time ago?  Are you admitting that Obama didn't give a shit until the last minute, or are you admitting that it is a bad deal thrown in just to mess with Trump?
Which experts did Obama consult with before he made this one-man, last-minute decision?

Now answer the million dollar question:
If this were a problem that needed fixing, why didn't Obama fix it a long time ago?

after raising fees to cover at least part of the bailout costs, isn't it feasible that the cut was a genuine effort to roll back a small part of what homeowners have to pay? jeez

It would have been a lot smarter for Obama to stop killing jobs.  So many Americans are out of work that buying a house is the LAST thing on their minds.   Obama has worked 8 years to destroy America, and his last second sabotage of Trump was pure spite.

If a thorough study and advice from experts shows that such a move is a good thing, then President Trump can easily re-enact the measure.  Obama did nothing but throw out a knee-jerk stumbling block.

Look .............  Obama is gone --- history.   BAD HISTORY.   Forget him and his stupid shit.
Today marked the beginning of a new America.  An improved and better America, and conservatives will be blazing the trails and leading the way.  You can either join in and help, or get out of the way.

[Walter]

Jan 20, 2017 23:33:09 GMT -5 AlaCowboy said:

Jan 20, 2017 20:39:22 GMT -5 Walter said:

I'm sure that all those struggling young families who voted for Trump and who were in the process of closing a loan are very happy tonight knowing their new POTUS just cost them that extra money.
They will sleep well knowing that they did their part.
America is a little greater tonight.
On behalf of all Americans, I thank them for their sacrifice.

Never mind that the Obama FED raised rates last month, which drove up mortgage rates, credit card rates, housing costs, etc. Obama said "f-word you for your service. Pay more for everything you buy."
Where was your outrage for that FED hike and the 5 FHA hikes in the last 8 years under Obama? Didn't even care, did you?
By the way, that FHA rate is now 0.85%.

Obama is gone.

THE NEW PRESIDENT RAISED INTEREST RATES 25 BASIS POINTS ON FHA BACKED LOANS ON HIS FIRST DAY IN OFFICE.
That must have been a move to make America great.
Yes or no?

[AlaCowboy]

Jan 20, 2017 23:49:57 GMT -5 Walter said:

Jan 20, 2017 23:33:09 GMT -5 AlaCowboy said:

Never mind that the Obama FED raised rates last month, which drove up mortgage rates, credit card rates, housing costs, etc. Obama said "f-word you for your service. Pay more for everything you buy."
Where was your outrage for that FED hike and the 5 FHA hikes in the last 8 years under Obama? Didn't even care, did you?
By the way, that FHA rate is now 0.85%.

Obama is gone.

THE NEW PRESIDENT RAISED INTEREST RATES 25 BASIS POINTS ON FHA BACKED LOANS ON HIS FIRST DAY IN OFFICE.
That must have been a move to make America great.
Yes or no?

Nope. He didn't raise them. He just corrected an error by Obama. After all, it's the end of an error, isn't it?
Remember, Trump gets eight years to blame everything on the last president. That's your boy Barry.

[daleko]

Jan 20, 2017 22:20:39 GMT -5 Walter said:

Jan 20, 2017 21:02:21 GMT -5 cyberobb99 said:

Bottom line...Americans will pay more to buy a house...because it makes America great. Can we agree?

Might, might not. How many RE loans are FHA backed? Back in '15 the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 3.79 percent,from 3.83 percent, according to the MBA. The average interest rate for FHA loans fell to 3.69 percent from 3.71 percent. Seems like the guy who bought to reflect his means and dropped the 20% down is penalized while the other gets insured by you to cover the risk of the buyer buying over his means starts out w a lower rate. The net is the same. That's unfair? If with the increase it becomes higher oop that's unfair? Seems like a business insurance decision. Risk on the return of the loan. Are you OK putting your financial assets at risk so another can buy without a suitable % coverage? If the overall return warrants the risk, OK, if not sucks to be the guy who chose not to save first or delay gratification in other areas of spending/lifestyle and then buy within his means. Off course the impact overall needs to be determined by any decision. I haven't seen those numbers. 

[Walter]

Jan 21, 2017 1:22:51 GMT -5 daleko said:

Jan 20, 2017 22:20:39 GMT -5 Walter said:

Bottom line...Americans will pay more to buy a house...because it makes America great. Can we agree?

Might, might not. How many RE loans are FHA backed? Back in '15 the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 3.79 percent,from 3.83 percent, according to the MBA. The average interest rate for FHA loans fell to 3.69 percent from 3.71 percent. Seems like the guy who bought to reflect his means and dropped the 20% down is penalized while the other gets insured by you to cover the risk of the buyer buying over his means starts out w a lower rate. The net is the same. That's unfair? If with the increase it becomes higher oop that's unfair? Seems like a business insurance decision. Risk on the return of the loan. Are you OK putting your financial assets at risk so another can buy without a suitable % coverage? If the overall return warrants the risk, OK, if not sucks to be the guy who chose not to save first or delay gratification in other areas of spending/lifestyle and then buy within his means. Off course the impact overall needs to be determined by any decision. I haven't seen those numbers. 

So to distill your argument down to its essence, if you have enough money, Trump is making your America great again. If you don't, then Trump is making your America a little worse for you..

I guess we have our first answer to Trump's question to poor urban black people. What do they have to lose? So far, after his first day, 25 basis points.

[cyberobb99]

Jan 20, 2017 22:20:39 GMT -5 Walter said:

Jan 20, 2017 21:02:21 GMT -5 cyberobb99 said:

From the article.... "Last week, Obama’s Housing and Urban Development secretary, Julian Castro, said the FHA would cut its fees. The administration didn’t consult Trump’s team before the announcement.

Republicans have argued in the past that reductions put taxpayers at risk by lowering the funds the FHA has to deal with mortgage defaults."


So Obama was throwing shit out there like a capuchin on meth, and you're upset that Trump said "let's put that on hold"?

Bottom line...Americans will pay more to buy a house...because it makes America great. Can we agree?

Bottom line... Americans who buy a house will continue to contribute to the pool instead of making every other taxpayer do it. What is there about this that you don't get, Walt? If you want to buy a house do you think we should be subsidizing every FHA buyer by more and more money?? You know, this is what the Dems did that helped cause the housing collapse.... they forced lenders to lend money to buyers who couldn't afford it, and if they didn't then they got sued for discrimination. If homebuyers getting an FHA can't afford the $500, then maybe they can't afford to buy the house!

[Walter]

Jan 21, 2017 10:12:16 GMT -5 cyberobb99 said:

Jan 20, 2017 22:20:39 GMT -5 Walter said:

Bottom line...Americans will pay more to buy a house...because it makes America great. Can we agree?

Bottom line... Americans who buy a house will continue to contribute to the pool instead of making every other taxpayer do it. What is there about this that you don't get, Walt? If you want to buy a house do you think we should be subsidizing every FHA buyer by more and more money?? You know, this is what the Dems did that helped cause the housing collapse.... they forced lenders to lend money to buyers who couldn't afford it, and if they didn't then they got sued for discrimination. If homebuyers getting an FHA can't afford the $500, then maybe they can't afford to buy the house!

So when Trump stood there and said he had the back of every American, he was lying. He meant only people with money.
Got it.

[Deleted]

Jan 21, 2017 10:12:16 GMT -5 cyberobb99 said:

Jan 20, 2017 22:20:39 GMT -5 Walter said:

Bottom line...Americans will pay more to buy a house...because it makes America great. Can we agree?

Bottom line... Americans who buy a house will continue to contribute to the pool instead of making every other taxpayer do it. What is there about this that you don't get, Walt? If you want to buy a house do you think we should be subsidizing every FHA buyer by more and more money?? You know, this is what the Dems did that helped cause the housing collapse.... they forced lenders to lend money to buyers who couldn't afford it, and if they didn't then they got sued for discrimination. If homebuyers getting an FHA can't afford the $500, then maybe they can't afford to buy the house!

Walt's a' hatin'. Don't harsh his buzz!

[Walter]

Jan 21, 2017 10:27:30 GMT -5 @kelliers said:

Jan 21, 2017 10:12:16 GMT -5 cyberobb99 said:

Bottom line... Americans who buy a house will continue to contribute to the pool instead of making every other taxpayer do it. What is there about this that you don't get, Walt? If you want to buy a house do you think we should be subsidizing every FHA buyer by more and more money?? You know, this is what the Dems did that helped cause the housing collapse.... they forced lenders to lend money to buyers who couldn't afford it, and if they didn't then they got sued for discrimination. If homebuyers getting an FHA can't afford the $500, then maybe they can't afford to buy the house!

Walt's a' hatin'. Don't harsh his buzz!

No Fred. Not hatin'.
Just keeping a tally of what making America great entails.
So far, we know that it makes America great if folks who are struggling do not own a home.

[AlaCowboy]

Jan 21, 2017 8:43:53 GMT -5 Walter said:

Jan 21, 2017 1:22:51 GMT -5 daleko said:

Might, might not. How many RE loans are FHA backed? Back in '15 the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 3.79 percent,from 3.83 percent, according to the MBA. The average interest rate for FHA loans fell to 3.69 percent from 3.71 percent. Seems like the guy who bought to reflect his means and dropped the 20% down is penalized while the other gets insured by you to cover the risk of the buyer buying over his means starts out w a lower rate. The net is the same. That's unfair? If with the increase it becomes higher oop that's unfair? Seems like a business insurance decision. Risk on the return of the loan. Are you OK putting your financial assets at risk so another can buy without a suitable % coverage? If the overall return warrants the risk, OK, if not sucks to be the guy who chose not to save first or delay gratification in other areas of spending/lifestyle and then buy within his means. Off course the impact overall needs to be determined by any decision. I haven't seen those numbers. 

So to distill your argument down to its essence, if you have enough money, Trump is making your America great again. If you don't, then Trump is making your America a little worse for you..

I guess we have our first answer to Trump's question to poor urban black people. What do they have to lose? So far, after his first day, 25 basis points.

So you're ok with putting the taxpayers money at greater risk just to enable people with a much higher default potential to buy more house than they can afford? Sure, it's ok with you as long as it's not YOUR money at risk. Why don't YOU call FHA and ask them to automatically withdraw $500 from YOUR savings or retirement account and send it directly to every borrower? Problem solved.

[Deleted]

Jan 21, 2017 10:33:37 GMT -5 Walter said:

Jan 21, 2017 10:27:30 GMT -5 @kelliers said:

Walt's a' hatin'. Don't harsh his buzz!

No Fred. Not hatin'.
Just keeping a tally of what making America great entails.
So far, we know that it makes America great if folks who are struggling do not own a home.

Where were your criticisms of the barack? You're being vindictive and petty over nothing. Can we expect 8 more years of this?

[Deleted]

Jan 21, 2017 8:43:53 GMT -5 Walter said:

Jan 21, 2017 1:22:51 GMT -5 daleko said:

Might, might not. How many RE loans are FHA backed? Back in '15 the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 3.79 percent,from 3.83 percent, according to the MBA. The average interest rate for FHA loans fell to 3.69 percent from 3.71 percent. Seems like the guy who bought to reflect his means and dropped the 20% down is penalized while the other gets insured by you to cover the risk of the buyer buying over his means starts out w a lower rate. The net is the same. That's unfair? If with the increase it becomes higher oop that's unfair? Seems like a business insurance decision. Risk on the return of the loan. Are you OK putting your financial assets at risk so another can buy without a suitable % coverage? If the overall return warrants the risk, OK, if not sucks to be the guy who chose not to save first or delay gratification in other areas of spending/lifestyle and then buy within his means. Off course the impact overall needs to be determined by any decision. I haven't seen those numbers. 

So to distill your argument down to its essence, if you have enough money, Trump is making your America great again. If you don't, then Trump is making your America a little worse for you..

I guess we have our first answer to Trump's question to poor urban black people. What do they have to lose? So far, after his first day, 25 basis points.

So much for the Joker ending the "carnage" in Gotham City... 

[daleko]

Jan 21, 2017 8:43:53 GMT -5 Walter said:

Jan 21, 2017 1:22:51 GMT -5 daleko said:

Might, might not. How many RE loans are FHA backed? Back in '15 the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 3.79 percent,from 3.83 percent, according to the MBA. The average interest rate for FHA loans fell to 3.69 percent from 3.71 percent. Seems like the guy who bought to reflect his means and dropped the 20% down is penalized while the other gets insured by you to cover the risk of the buyer buying over his means starts out w a lower rate. The net is the same. That's unfair? If with the increase it becomes higher oop that's unfair? Seems like a business insurance decision. Risk on the return of the loan. Are you OK putting your financial assets at risk so another can buy without a suitable % coverage? If the overall return warrants the risk, OK, if not sucks to be the guy who chose not to save first or delay gratification in other areas of spending/lifestyle and then buy within his means. Off course the impact overall needs to be determined by any decision. I haven't seen those numbers. 

So to distill your argument down to its essence, if you have enough money, Trump is making your America great again. If you don't, then Trump is making your America a little worse for you..

I guess we have our first answer to Trump's question to poor urban black people. What do they have to lose? So far, after his first day, 25 basis points.

So that poor, urban, Black couple, more likely a single parent household, w several rug rats in tow, living in gov provided/financially supported housing, with food provided by several .gov programs, w a free smart phone, free trans coupons, is going to apply for a FHA loan with it's 3.5% min down stroke and min credit score? What planet are you living on? Jeez, Habitat for Humanity is wasting their time, I guess.

Let's wait and see if their lives do indeed get better by focusing on real core issues. Edu for their youngens, jobs, some kind of skill training for those of working age, safer neighborhoods and more local community political involvement. Those folks are in public supported housing w or w/o FHA. If and when, through better edu and expanded opportunities, they work, save their money and enter the household ownership arena, they'll be able to do so at a level appropriate to their station. This .25 increase will put them even w those who don't need FHA but, on average pay a higher rate. Or do you think it fair that they should get a lower net rate and easier access to funds?

[daleko]

Jan 21, 2017 10:45:12 GMT -5 AlaCowboy said:

Jan 21, 2017 8:43:53 GMT -5 Walter said:

So to distill your argument down to its essence, if you have enough money, Trump is making your America great again. If you don't, then Trump is making your America a little worse for you..

I guess we have our first answer to Trump's question to poor urban black people. What do they have to lose? So far, after his first day, 25 basis points.

So you're ok with putting the taxpayers money at greater risk just to enable people with a much higher default potential to buy more house than they can afford? Sure, it's ok with you as long as it's not YOUR money at risk. Why don't YOU call FHA and ask them to automatically withdraw $500 from YOUR savings or retirement account and send it directly to every borrower? Problem solved.

He doesn't realize it is his money.