[Rhodes22-list] Brad - A little more on CRAs

[TN Rhodey]

Brad - You post stuff as fact when it isyour opinion. I stated i didn't know
the quality of the source up front...I admitted I wasn't sure of my claim of
les than 50%. I said i tried to find some different numbers and could not
so I asked you if you had any. Hell Brad I said I wasn't sure so I was
looking to see some actual numbers. The last numbers I saw showed CRA loans
out performed typical sub-prime. This was my own experience as well. Heck i
just asked if you had any numbers to support your claim. I take your dodgy
response as a"no" If you don't have any numbers to support your claim just
say so....
Wally

On Mon, Sep 29, 2008 at 8:59 PM, Brad Haslett <flybrad at gmail.com> wrote:

> Wally,
>
> First, a "truth in posting" statement is necessary.  I'm not going to
> waste my time parsing ANY data that has Keith Ellison as the source.
> Anyone who knows me well knows that I have no issues with
> African-Americans or Muslims.  I have huge issues with 'black whatever
> he was converted to the Muslim faith' Keith Ellison.  Call me racist,
> bigoted, ignorant, stupid, fill in the blank here ________________,
> whatever.  Sorry, I'm not even going to look at anything Ellison
> quotes or anything anybody else quotes that is  attributed to Ellison.
>
> The pdf document is from a law firm defending the CRA, hardly an
> objective source.
>
> Since you seem to enjoy repeating the statement that my sources don't
> back up my statements, all I can say is "buy a mirror". You yourself
> said you hadn't watched the videos I posted.
>
> Wally, it doesn't matter if we meet halfway in Nashville, get out the
> rulers, and end this argument once and for all. We're in deep shit
> either way (but I am looking forward to your numbers from a credible
> source and your comments on the videos).
>
> Brad
>
> On Mon, Sep 29, 2008 at 4:29 PM, TN Rhodey <tnrhodey at gmail.com> wrote:
> > Brad - I said CRA sub-prime defaults  represented less than 50% of
> sub-prime
> > defaults. I hadn't checked in a year or so ....your claim blaing CRA made
> me
> > curious . .A quick check shows I was way off.  CRAs actually have
> > performed much better than i remembered. They do not perform as welll as
> > prime but much better than traditional sub-prime and Alt A.  Do some
> google
> > searches on CRA defaults.
> >
> >  see link from Slim's paper below. Check out the embedded PDF in the
> article
> > for breakdown on CRA loans defaults in top 15 US cities. I don't know
> > anything about the paper but the PDF contains data refuting the claim the
> > CRA defaults are the problem. I searched hard but could find no claim
> with
> > numbers supporting  your position that CRA was the problem. In fact
>  people
> > (mostly politicians) making the claim didn't provide numbers and didn't
> seem
> > to know what they are talking about......present company excluded of
> course.
> > :-)
> >
> > Do you have NUMBERS  to support your claim that CRA loans are the
> problem?
> >
> >
> http://minnesotaindependent.com/10179/against-all-reason-bachmann-and-others-blame-1977-fair-lending-law-for-adding-to-economic-crisis
> >
> >  A quick check also confirmed most of the Sub-Prime Mortgage lenders did
> not
> > have to be concerned with CRA. If ones reviews the numbers you can come
> to
> > the conclusion the CRA loans actually have helped keep foreclosures from
> > being worse. If these folks were not in a CRA loan they would be in
> typical
> > sup-prime ARM with adjustable rates, high fees, and pre-payment
> penalties.
> >
> > A while back there was a  Congressional GAO report breaking down
> > foreclosures in every state by type of loan. I will try to find and post.
> > The main problems were Alt A Pay Option ARMs, Alt A Stated, Alt A No DOc,
> > and Sub-prime stated.
> >
> > Wally
> >
> > <
> http://minnesotaindependent.com/10179/against-all-reason-bachmann-and-others-blame-1977-fair-lending-law-for-adding-to-economic-crisis
> >
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