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Monday, July 02, 2007

Mortgage Lender Quote of the Day

by Tanta on 7/02/2007 01:19:00 PM

It seems that not everybody is getting the point yet. From Reuters, "U.S. regulators stymie mortgage lenders again":

"I think (regulators) are coming in after the fire," said Peter Paul, president of Paul Financial LLC in San Rafael, California. "I'm a little concerned about legislating credit standards. You could start to limit credit."
Why, yes, Mr. Paul, you certainly could start to limit credit. There's a theory that those heartless regulators actually thought that was a feature, not a bug.