So Liz… Do Tell… When Was the Last Time You Contacted Some Deadbeat Borrowers About Curing the Mortgage? During the Ford Administration? You Don’t Say….

"However, the extraordinarily tight standards that currently prevail reflect, in part, new obstacles that inhibit lending even to creditworthy borrowers. These tight standards can take many forms, including stricter underwriting, higher fees and interest rates, more stringent documentation requirements, larger required down payments, stricter appraisal standards, and fewer available mortgage products."

Normal requirements and standards are just so poo-py and such a downer

Newsflash for you – the good ole days of working the teller line (because your fine arts drama degree wasn’t paying the bills) and subsequently climbing the ladder to VP within a community bank that was then gobbled up by a much larger competitor like Wachovia and retaining VP credentials within same are over, sweetie.  It was mostly a fraud that happened as a result of a massive, once-in-a-lifetime credit bubble chasing after real estate.  The sooner you accept that reality, the better off I think you will be.

"In the short term, however, I believe policymakers should at least consider policies that take into account the role the GSEs could play in hastening the healing of the housing market rather than focusing entirely on minimizing losses to the GSEs. "

What a fucking nugget of golden wisdom this is.... no, wait... my bad..... what a nugget of dog shit spray painted gold this is....

Liz... wake up sweetie... you were dreaming dear..... "the healing of the housing market" implies that what we saw unfold was something other than a debt fueled bubble.