« Fannie Mae Tightens Loan Restrictions | Main | Billionaire Purchases Option One Mortgage »
March 28, 2008
Sen. McCain Contrasts Clinton: No Bailout for the Irresponsible
Republican Presidential Candidate John McCain drew significant contrasts between his plan for settling the mortgage crisis and that of Democratic Presidential Candidate Sen. Hillary Rodham Clinton.
McCain said he pushes for greater accountability and transparency in lending and believes lenders who initiated poorly underwritten loans should be held accountable, as well as those homeowners who misstated information on loan applications to gain a mortgage.
In addition, McCain is asking for a return to the philosophy that down payments should be required during the purchase of a home and opposes proposals to push down initial down payment requirements on FHA mortgages.
Posted by S. Germain at March 28, 2008 07:52 AM