Comments on: Fiscal Responsibility? http://www.showmedaily.org/2010/02/fiscal-responsibility.html Advancing liberty with responsibility by promoting market solutions for Missouri public policy Thu, 24 May 2012 12:24:42 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: jmb27 http://www.showmedaily.org/2010/02/fiscal-responsibility.html/comment-page-1#comment-5262 jmb27 Sun, 07 Feb 2010 19:21:27 +0000 http://www.showmedaily.org/?p=13125#comment-5262 Predatory Lending is a major contributor to the economic turmoil we are currently experiencing. Here is an example of what I am talking about: Scott Veerkamp / Predatory Lending (Franklin Township School Board Member.) Please review this information from U.S. Senator Jeff Merkley regarding deceptive lending practices: "Steering payments were made to brokers who enticed unsuspecting homeowners into deceptive and expensive mortgages. These secret bonus payments, often called Yield Spread Premiums, turned home mortgages into a SCAM." The Center for Responsible Lending says YSP "steals equity from struggling families." 1. Scott collected nearly $10,000 on two separate mortgages using YSP and junk fees. 2. This is an average of $5,000 per loan. 3. The median value of the properties was $135,000. 4. Clearly, this type of lending represents a major ripoff for consumers. http://merkley.senate.gov/newsroom/press/release/?id=A09C6A80-537A-4EB1-83C5-31925F046B6F Predatory Lending is a major contributor to the economic turmoil we are currently experiencing.

Here is an example of what I am talking about:
Scott Veerkamp / Predatory Lending (Franklin Township School Board Member.)

Please review this information from U.S. Senator Jeff Merkley regarding deceptive lending practices:
“Steering payments were made to brokers who enticed unsuspecting homeowners into deceptive and expensive mortgages. These secret bonus payments, often called Yield Spread Premiums, turned home mortgages into a SCAM.”

The Center for Responsible Lending says YSP “steals equity from struggling families.”
1. Scott collected nearly $10,000 on two separate mortgages using YSP and junk fees. 2. This is an average of $5,000 per loan. 3. The median value of the properties was $135,000. 4. Clearly, this type of lending represents a major ripoff for consumers.

http://merkley.senate.gov/newsroom/press/release/?id=A09C6A80-537A-4EB1-83C5-31925F046B6F

]]> By: Christine Harbin http://www.showmedaily.org/2010/02/fiscal-responsibility.html/comment-page-1#comment-5219 Christine Harbin Thu, 04 Feb 2010 14:55:06 +0000 http://www.showmedaily.org/?p=13125#comment-5219 Whoops! The author of the above comment is me. I was accidentally logged in as Andy. Whoops! The author of the above comment is me. I was accidentally logged in as Andy.

]]> By: Andrew Hanson http://www.showmedaily.org/2010/02/fiscal-responsibility.html/comment-page-1#comment-5218 Andrew Hanson Thu, 04 Feb 2010 14:50:34 +0000 http://www.showmedaily.org/?p=13125#comment-5218 ... simultaneously using the word of the day on dictionary.com. :) … simultaneously using the word of the day on dictionary.com. :)

]]> By: Abhi Sivasailam http://www.showmedaily.org/2010/02/fiscal-responsibility.html/comment-page-1#comment-5213 Abhi Sivasailam Thu, 04 Feb 2010 05:14:35 +0000 http://www.showmedaily.org/?p=13125#comment-5213 SMI challenge: every employee uncovers some alarming trend using the new tools. SMI challenge: every employee uncovers some alarming trend using the new tools.

]]> By: Alyssa http://www.showmedaily.org/2010/02/fiscal-responsibility.html/comment-page-1#comment-5204 Alyssa Wed, 03 Feb 2010 23:31:26 +0000 http://www.showmedaily.org/?p=13125#comment-5204 Wow...that is quite angering...unfortunately a watchful eye may not be sufficient to stop this outrageous spending... Wow…that is quite angering…unfortunately a watchful eye may not be sufficient to stop this outrageous spending…

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