Ok, just so that everyone on this board understands: I am a mortgage banker. I am an approved SONYMA lender. Trust me when I say this: SONYMA is one of the strictest state bond programs in the country. Credit, assets, income verfication are all tough. 3 year history required, the debt to income ratio (how much you borrow versus how much you can pay monthly)is very strict. Fannie Mae, Freddie Mac, FHA, and sub-prime lenders played a role in this (and I have sold loans for all of those programs) but a place like SONYMA is actually a fantastic program for a 1st time buyer.

Let’s direct our ire at those who deserve it…

cmcmullen on June 22, 2009 at 5:02 PM

No kidding. I have a SONYMA mortgage and the amount of paperwork I had to submit was incredible (seven-times the amount required for a conventional mortgage, according to the broker). But it was worth it. You get a low rate, fixed mortgage with excellent terms.

It is not a program for subprime borrowers and kudos to the board members for ignoring Sotomayor’s complaints.

Hey i am so tempted to just
1. print up an id card changing my name to juan
2. run to a bunch of liberals speaking spanish
3. ask for a multi million dollar loan
4. default on it and then repeat the process over and over again..

Only thing i need to do is to change my skin color.
Im too WHITE..

veteranoutrage on June 22, 2009 at 8:04 PM

LOLOL…Maybe the LIBS can tell us AGAIN why we’re better off with more diversity…LOLOL

What the heck did we ever get from them?

Only thing i need to do is to change my skin color.
Im too WHITE..

I just have to ask if liberal girls go to classes to figure out how to look the way they do.

When I was in college ages ago, there were hip chicks who went out of their way to appear as…unbecoming…as they possibly could.

It was sad to see when I visited my kids at college that the trend had continued and accelerated.

What is it with these women? Do they just hate the world and want to do whatever they can to make life unpleasant?

Harry Schell on June 22, 2009 at 7:27 PM

The question is, which came first, the ugliness or the liberal views. I maintain that ugly women know they’re ugly, so they figure they’ll be better off as liberals where they can be judged by their “views”. Pretty women have no problem like that. They KNOW they’ll get along fine in life.

Eh. This has little to do with how she would act as a justice

I strongly disagree, Ed!!! This shows EXACTLY how she would behave on the high court.

She has shown by her performance on SONYMA’s board that she will cast aside logic and reason and ignore serious and predictable consequences in order to advance her ideology.

When I was in college ages ago, there were hip chicks who went out of their way to appear as…unbecoming…as they possibly could.

It was sad to see when I visited my kids at college that the trend had continued and accelerated.

What is it with these women? Do they just hate the world and want to do whatever they can to make life unpleasant?

Seriously, though, blaming the sub-prime meltdown on Sotomayor is not only a stretch, but it shifts the focus from the real culprits – Franklin Raines, Chris Dodd, Barney Frank, George Soros and Maxine Waters – and dilutes the valid reasons why she should not be confirmed.

She’s got more than enough baggage to tank her ascension, but it will not matter because every honest person knows that anyone who questions her qualifications will be branded an anti-Hispanic, anti-woman, anti-corruption, ethically-challenged, anti-immigrant racist.

Is it 2012 yet?

My intention is to point out the misdirection here. This program in specific, is NOT the cause of a lot of the problems in the way things like CRA or FHA and the sub-prime loans were. That’s all I’m saying.

SONYMA is a tight program for well qualified buyers

angryed

I respectfully disagree. SONYMA is actually a lender of first resort, and if people don’t qualify, then we go to other programs. Please, if you are not a licensed mortgage banker in the state of New York, do not assume to know anything about it. If you were, you’d understand that SONYMA was not, and is not, at the core of the issues.

Again, direct your anger to programs which caused the problem, but if you look at the default rates of SONYMA loans versus the FHA loans, or FNMA/FHLMC loans, you’d understand the mistake in your ‘knowledge’.

cmcmullen on June 22, 2009 at 5:38 PM

You’ll have to excuse we knuckle dragging troglodytes.
Anyone in the financial business, from licensed mortgage banker, to commodity broker is suspect in our eyes and, as far as we’re concerned as trustworthy and honorable as an attorney. Another words a 0 on a 1-10 scale.

I respectfully disagree. SONYMA is actually a lender of first resort, and if people don’t qualify, then we go to other programs. Please, if you are not a licensed mortgage banker in the state of New York, do not assume to know anything about it. If you were, you’d understand that SONYMA was not, and is not, at the core of the issues.

Again, direct your anger to programs which caused the problem, but if you look at the default rates of SONYMA loans versus the FHA loans, or FNMA/FHLMC loans, you’d understand the mistake in your ‘knowledge’.

Laugh while you can, but if the GOP pisses away the Latino vote, it’s hard to see how they can regain a national majority for at least a generation.

starfleet_dude on June 22, 2009 at 5:10 PM

That’s an old canard. We lose Latinos for the same reason we lose lots of people- the GOPs loss of identity. Once we reconnect to our core principles, Latinos will start to notice how closely our morals resemble theirs.

Anyway, why should the GOP fear losing Latino voters? The Dems practically pinned horns and a tail on Alberto Gonzalez, and it didn’t hurt them…

starfleet_dude on June 22, 2009 at 5:10 PM

Dude,

It’s a DAILY KOS poll. Do I have to spell it out for you why it’s laughable?

cmcmullen on June 22, 2009 at 5:02 PM

All govt programs do the same thing: allow people who can’t qualify for a mortgage the old fashioned way (save for a down payment, have goo credit, have a job) to get a mortgage. If someone can qualify at Bank of America they don’t need SONYMA. If they can’t they go to SONYMA and get a loan they can’t otherwise get on the open market.

Think about it. Why would SONYMA exist if not to give the rejects a second shot? It is the lender of last resort for deadbeats. And we – taxpayers – are left holding the bag when they eventually foreclose.

What a swell program!!

Eh. This has little to do with how she would act as a justice, or in fact little to do with how she’s acted as an appellate jurist.

Sure it does. As the Times writes it, Sonia was chiefly concerned about the plight of the poor, rather than the plight of the not-so-poor. More units of the lowest-end housing means fewer units that are better, fewer opportunities for someone to work a little harder and get a better place.

In short, it shows favoritism for one group over another, instead of applying the rules as they exist. A notably non-judicial temperment.

HA HA HA HA HA HA

Laugh while you can, but if the GOP pisses away the Latino vote, it’s hard to see how they can regain a national majority for at least a generation.

The latest numbers from the nonpartisan Research 2000 for Daily Kos find that only eight percent of Latinos view the party favorably, while an astonishing 86 percent view it unfavorably.

HA HA HA HA HA HA

Daily Kos poll.

I also read a poll run by the NY Yankees that showed 99% of people hate The Red Sox. About as valid.

Let’s direct our ire at those who deserve it…

Is this how you make decisions on everything?

Cindy Munford on June 22, 2009 at 2:37 PM

Only when the polls agree with her.

I do say this alot, but then, GOP supporters are dropping monthly.

AnninCA on June 22, 2009 at 2:21 PM

Not according to any poll that I have seen.

Maybe you should try checking the real world for your data?

New poll numbers really seem to bear out the fears of some Republicans: The GOP’s quasi-opposition to Sotomayor seems to be hurting the party among Latinos in a big way.

The latest numbers from the nonpartisan Research 2000 for Daily Kos find that only eight percent of Latinos view the party favorably, while an astonishing 86 percent view it unfavorably.

That’s a real shift from what were already pretty bad numbers from before the Sotomayor nomination, when 11% of Latinos viewed the GOP favorably, and 79% viewed it unfavorably.

One of the big stories today is that Republicans are realizing that there’s no political percentage in fighting the Sotomayor nomination. It’s striking that Latino opinion about the GOP is dropping so fast, even at a moment when GOP opposition to Sotomayor appears to be flagging, as opposed to intensifying.

This continuing drop among Latinos, coming at a time when many party strategists recognize the party’s desperate need to broaden its appeal, only reminds us that not only are there few apparent upsides in opposing Sotomayor, there are potentially serious costs, too.

JiangxiDad on June 22, 2009

Like her marxism, the buns are stale and the cinnamon is only promised.

When we start getting more than two degrees away from the big names, many simply lose interest.