by Tanta on 4/02/2007 10:43:00 AM
Monday, April 02, 2007
CFC's Angelo Mozilo reminds us why letting lenders regulate themselves has worked out so well.
He said adjustable-rate mortgages and loans made without a downpayment have been used for more than a generation with proven results.
“It’s very important that we put liquidity back in the system,” Mozilo said while co-hosting "Squawk Box." “It’s important that that the Fed backs off on these guidelines and that people realize hybrids are very good loans.”
We're from the mortgage industry and we're here to help.