I mean seriously… that Constitution? Just gets in the way of progress, dammit! [1]
The FHFA intends to loosen the terms of the two-year-old Home Affordable Refinance Program (HARP), which helps borrowers who have been making mortgage payments on time but who have not been able to refinance as their home values have dropped.
The Wall Street Journal reported that the changes should boost refinancing because they will let banks avoid the risk of any “buy-back” on a HARP mortgage as long as borrowers have made their last six mortgage payments and they prove that they have a job or another source of passive income.
So not only does Obama get to rule and reign by executive decree, he’s giving the Occupiers precisely what they demand… in a happy marriage of corporatism (who is ostensibly thrilled to be refinancing loans without assuming the risk) and socialism by decree.
You’re welcome, America.