Stay Out...

So the drumbeat against mortgage brokers is about to ratchet up an additional notch as the President announces plans on broadening the FHA's role, increasing government regulations on mortgages, and tightening the noose on mortgage brokers.

One of many stories is here.

To be blunt... this is a bunch of crap. I'm not insensitive to people facing foreclosure, but this is not a problem relegated to third-party originated loans, and it is not something deserving of a bailout. That might not be what the article clearly said... but read between the lines and the rest of the press, and you will know what is happening.

Mortgage brokers are the people who work past 5pm, who consult with their borrower for hours or even days to find the loan that suits them. Mortgage brokers are not the evil of society and have not caused the current issue. The problem stems from stagnant or falling house prices, rising or stagnant interest rates, a steady increase in the prime rate along with new credit card/bankruptcy legislation that made credit card payments higher, and too many people thinking they could make a quick buck flipping houses. That coupled with regional property tax increases because government wanted to get in on a booming housing market too... and now the boom has busted and the hens have come to roost.

Mark my words... the last thing that will help homeowners is to tighten legislation on mortgage brokers and limit mortgage products. Think about it... if you have a homeowner in a crunch and you take away their refinance options, what is going to be left for them to do? If they can't afford to stay, and they can't afford to sell, the only option left is foreclosure. As the government gets more and more involved (it already has in North Carolina), the foreclosure rate is going to go up, not down. Count on it.

Sadly, George W. Bush might have lost the last bit of hope I had for his legacy. What true conservative believes the answer to society's ills is more government legislation and bureaucracy? That sounds like a liberal mindset to me. NO LENDER WANTS TO FORECLOSE ON A HOME. NO LENDER OR BROKER ORIGINATES A LOAN THINKING IT WILL GO INTO FORECLOSURE. LENDERS LOSE WHEN HOMES FORECLOSE. Get it. The market and the industry can take care of this and will if government stays out. Unfortunately, government isn't, and thus the industry is reacting faster and harsher trying to stem the tide. This WILL NOT end good for people in the mortgage business, and it will not end good for the typical homeowner who finds themselves outside of agency (Fannie/Freddie) guidelines.

Conservatives believe in limited government, free markets, self-determination, and personal responsibility. Where are those ideals? George? Anyone?

Fred Thompson to Announce Candidacy Today?

It's official... maybe... or it will be... or something. Media reports are conflicting, but there should be a press conference today at 4:30, and we should know more then.

Get Ready. Here comes Fred!

Admittedly, I'm not as excited about Fred Thompson as I was. Maybe its the wait... and maybe that's why he's waited. The Presidential Race this time certainly started too early. Still, the more I learn about Mike Huckabee, the more I am leaning his way... I just wish he could get some traction. I have hope for the Republican from Hope, Arkansas. Either one of them is heads and shoulders above the other GOP candidates and light years better than Hillary.

• Fred Thompson for President T-Shirts
  
• Mike Huckabee for President T-Shirts

UPDATE: According to the conference call this afternoon, Fred Thompson will officially announce his candidacy on September 6th.

Global Warming Is Not Fact

I'm tired of people preaching to me about Global Warming. It interests me that the same people (i.e. Liberals) who want tolerance for *anything* and want you to be open-minded about *everything* want to silence you if you disagree with them. Liberals support freedom of thought and action, so long as it is not contrary to their narrow view of the world. Less than half of all scientists believe in man-made global warming according to a recent survey... yet liberals would have you believe that man-made global warming is conclusive fact, and anyone who denies it is tantamount to denying the holocaust.

I do not deny the holocaust. I do deny global warming (at least the man-made kind) is fact, and apparently so do half of the worlds scientists. And for all the people out there like me, here's the t-shirt. Maybe I should send one to 60 Minutes and another to Al Gore?

No, I Will Not give up my SUV.

No matter how bad he wants it, John Edwards can not have my SUV. Sorry, that might win you votes with some far-left wackjobs... but the rest of us don't want some politician with a home that totals over 28,200 square feet and his own SUVs telling us what we can and cannot drive. I don't tell Mr. Edwards that he can't have a bedroom larger than many North Carolinians' homes (600 square feet is a big bedroom). So, why does Johnboy think he can tell me what I can or cannot drive.

No, I Will Not give up my SUV. You'll have to pry the keys out of my cold dead hands.

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