A Quote by Richard Thaler

The same with the mortgage brokers that were selling people mortgages they couldn't afford. We shouldn't pay them on each mortgage they write. They should have what they call "skin in the game," where they've got to reimburse us if the guy who sold the mortgage defaults.

Richard Thaler

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Afford Brokers Call Each Game Got Guy Mortgage Pay People Same Selling Should Should Have Skin Sold Them Us Were Write

Quote Author

Richard Thaler
American - Economist
Born: September 12, 1945

The financial collapse of 2008 got its start with predatory mortgages, that weren’t sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way.

Elizabeth Warren

The government is promoting bad behavior... do we really want to subsidize the losers' mortgages... This is America! How many of you people want to pay for your neighbor's mortgage? President Obama are you listening? How about we all stop paying our mortgage! It's a moral hazard

Rick Santelli

A lot of these things have hurt the average American. When they look at the banks and they say, "Well, the bank's talking its own game," I am telling you, what we've done in mortgage lending, our inability to have proper regulations around mortgages, has hurt average Americans. First-time buyers, immigrant buyers, prior defaults, self-employed, because they can't get a mortgage. Will it make a big difference to JPMorgan Chase? No, but you're hurting my fellow citizens. Let's go at it, and let's fix it.

Jamie Dimon

No one pushed harder than Congressman Barney Frank to force banks and other financial institutions to reduce their mortgage lending standards, in order to meet government-set goals for more home ownership. Those lower mortgage lending standards are at the heart of the increased riskiness of the mortgage market and of the collapse of Wall Street securities based on those risky mortgages.

Thomas Sowell

The myth is that if housing prices go up, Americans will be richer. What banks - and behind them, the Federal Reserve - really want is for new buyers to be able to borrow enough money to buy the houses from mortgage defaulters, and thus save the banks from suffering from more mortgage defaults.

Michael Hudson

We will not, on the altar of money, mortgage our conscience, mortgage our faith, mortgage our salvation.

Peter Akinola

Poverty is not a mortgage on the labor of others-misfortu ne is not a mortgage on achievement-fai lure is not a mortgage on success-sufferi ng is not a claim check, and its relief is not the goal of existence-man is not a sacrificial animal on anyone’s altar nor for anyone’s cause-life is not one huge hospital.

Ayn Rand

A lot of people in the USA probably don't understand how important they are to the mortgage markets. And it's really important for people to have confidence in the mortgage markets and that there be stability in the mortgage markets.

George W. Bush

Except for a handful of banks that just keep a handful of their loans in portfolio, on their balance sheet, every other loan that's originated in the United States - whether from a bank, mortgage company, mortgage broker - is sold into the secondary market.

Dan Gilbert

Both HUD and the Department of Justice began bringing lawsuits against mortgage bankers when a higher percentage of minority applicants than white applicants were turned down for mortgage loans. A substantial majority of both black and white mortgage loan applicants had their loans approved but a statistical difference was enough to get a bank sued.

Thomas Sowell

I got a mortgage at 17! I didn't even know you could get a mortgage at 17.

Jennifer Ellison

Redlining went beyond FHA-backed loans and spread to the entire mortgage industry, which was already rife with racism, excluding black people from most legitimate means of obtaining a mortgage.

Ta-Nehisi Coates

American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.

Alan Greenspan

There is no better way to quickly buoy hard-pressed homeowners than helping them take advantage of the currently record low fixed mortgage rates and significantly reduce their monthly mortgage payments.