Agree with you too late. But is there some neglience involved?

The show is called election year.

It’s also my opinion the powers that should go after the top heads of the NAR that proliferated propaganda and misconceptions of homeownership risks and rewards to continue the gravy train of commissions to their affiliated associates. they played as great or greater of a role as any politician or wall street derivative and credit swap dealer.

Go after Congress (yes), go after Wall Street (yes) and go after the real estate consortium of associations, the VERY LARGE contributors to the politicians. Go after the self grandizing liars, cheats, and thieves.

May be a bitter pill to swallow for NAR members that their leadership should also be held accountable, but they proliferated the Ponzi scheme, house of cards real estate market for their own best interests. Time for them to also pay the piper.

And, if you cultivated or sold homes and condos to investor/flippers during the artificial boom, if you steered any clients toward certain mortgage brokers or companies because they could make a loan to your very uncreditworthy clients, if you continued to hype the boom when the bust was imminent and convinced people to buy homes that have them upside down or in foreclosure, perhaps their should be a pair of cuffs waiting for you for despicable role you played.for greed.

Look, it’s the government trying to act too tough, too late. There is an overwhelming amount of regulation out there – the legislators could have intervened long before now.

It’s all a show.

Whether an October suprise or not, I, for one, hope the investigation also leads into the Congress. It strikes me, with all I’ve read and heard in the media, that some members of Congress were complicit in their actions. They fostered and enacted laws which directly led to the abuses we now learn about. Some may have even had financial benefit from the laws they enacted.

Further, I fully expect that some (many?) leaders of Fannie and Freddie will be investigated and charged. Again, from the news reports, it strikes me that they knew that there problems and did nothing about them. One specific leader reaped a huge golden handshake after only a few weeks of work. What I’d really like to see are embarassing news reports with names and faces. Mushrooms wilt in the sunshine.

LIke any active agent, I know many mortgage loan officers – whether direct lenders for banks, or mortgage brokers. Speaking only for myself, I cannot recall any individual loan officer who acted with anything other than total integrity. Perhaps the investigations you cite will lead all the way down to individual loan officers, perhaps not. Instead, I suspect that the investigators will be plenty busy with the corruption and deceipt at the top – and that’s as it should be.

There were individuals that did knowingly place their own personal interests above those of their clients and these individuals should be prosecuted to the full extent of the law as possible.

There were borrowers that were greedy and lied in their attempts to profit.

I truly hope that it does not turn into a witch hunt as witch hunts are consumers of time and resources with insignificant results.

And maybe they should look into the actions of Fannie and Freddie along with Congress.