Dear Pete Visclosky and the mortgage crisis

Dear Peter Visclosky

Requiring Mortgage Originators to get licensed is not the answer to the mortgage crisis... the problems lies in the big boys that are in your(politicians) pockets is the answer to the problems.

Pete wants to require all Mortgage Originators to be licensed by the state, my opinion on that is that when I worked in the Mortgage industry the last few years in the subprime market, I was not licensed, but the office was and we worked under the umbrella of the license and to tell you truth, nothing happened in our office that caused people to lose their homes, the ones that are licensed (the brokers) are the main reason that people lost their homes and were lied to...

Dear Pete ...that is not the answer, the answer is all the big business and the investors that were not required to put money down, because the cities and states wanted to have someone owning those houses so that they could collect property taxes, so giving them loans on houses with no investment(how can you be a business owner and never invest any money up front)... which means when the going gets tough they can walk away and the only thing that is affected is their credit scores and with some smart moves that could even be increased over time.

Pete that is your answer to your problem.

Links to this post that you might want to take a look at.
Email from Pete
200 billion dollar cover up


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