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View Diary: Bankruptcy's Bastard Brother - Time to Take Action (92 comments)

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  •  Now you have it (none)
    Above all else, this is it.

    The deal is that, currently, Wall Street will not purchase HOEPA loans.  This is because they do not want to touch loans with assignee liability.  Essentially, this has had the effect of preventing virtually any HOEPA loans from being made, because the whole goal is to package them and sell them to Wall Street. Lowering the HOEPA points and fees threshold, but elmininating the very thing that makes HOEPA work, makes this bill simply another hidden grenade.

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