Sunday, December 28, 2008

Dodd and housing loans

I figured there must be more than just a couple of points off of a loan.  Seems I could have been right.

More on Dodd « For What It’s Worth
Seems that the problem with Dodd was not that he got a few points shaved from his fees by Countrywide, but rather that he got a no-doc loan for his retirement house in Ireland. Seems it might be a wee illegal to do so, particularly if the loan was a Fannie and/or Freddie secured one, or how it was booked, or any millions of reasons why a federally insured loan shouldn’t be given to a home under foreign jurisdiction. I hear that the Senator bought the house through a front company, and disposed of it in the same manner when the Countrywide thing went down, indicating, at least as the cop shows say, bad intent.

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