Clinton to blame for bad mortgages

While I listened to Hillary to pat herself on the back for all the wonderful things she accomplished while Bill was our president, I also heard her point her finger at predatory mortgage lenders.

I have been a mortgage lender for 17 years and remember who was president when lending standards dropped so radically that most anyone could buy a home. None other than Bill Clinton.

Today we are paying the price for mortgage lending standards loosened during the Clinton years and maintained throughout the second Bush mistake.

And I am pointing the finger of blame directly back at Bill. Hillary as we know had little knowledge of anything that happened in the White House she called home.

During that time, FHA loans were often available to borrowers with credit scores below 600 while 100 percent financing and 80/20 percent first and second mortgages were all the rage.

People with credit scores under 600 have never paid anyone on time and have stiffed most if not all of their creditors.

For Mrs. Clinton to jump on the blame-the-lender" bandwagon is inexcusable.

For every predatory lender in America, there are thousands of people purchased homes with no money down and fully understood the terms of their loans.

Many who were given the privilege and opportunity to own a home, then walked away leaving the banks holding the bag as they had done repeatedly in the past.

The mortgage industry has taken one shot after another in the media and in some cases deservedly so. Mrs. Clinton is correct; we are all going to pay the price for the sub-prime lending crisis.

What she failed to do was accept any of the blame the Clinton administration deserves while she strains to take credit for something she had nothing to do with.

America needs a leader willing to look ahead and find solutions, not one who revises history in an attempt make herself something she is not.

Brian DeValk

Palatine