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Writing in the American Thinker, the simple exchange went through with a Countrywide Underwiter puts the Fannie Mae failure in perspective. Working as a loan officer in Detroit, Michigan, Alter had the following exchange with an underwriter from Countrywide:

CW Underwriter: I need your help on the "Smith" file. We need you to complete the Government Monitoring Section of the 1003. Broker: I did complete the Government Monitoring section. CW Underwriter: But you haven't filled in the borrower's Race or Ethnicity. Broker: If you notice, the Borrower checked the box indicating: "I do not wish to furnish this information. " CW Underwriter: You also checked the box indicating that this interview was done face-to-face. Broker: So? CW Underwriter: So you saw him. Is he black? Broker: I don't understand. My client indicated his preference to keep this information to himself. CW Underwriter: Well, you saw him and you know his race and ethnicity. Our ability to fund our deals and source new money depends on doing a certain percentage of loans with black and minority clients. Alternative viagra external if you want this loan underwritten at countrywide alternative viagra external, your need to furnish this information: is alternative viagra external he black?
these were the results of [alternative viagra external] the acorn presured rules that barney frank pushed through. The Bush administration attempted to reign in Fannie Mae. John McCain even testified in front of a congressional committee and had sounded the alarm. For Nancy Pelosi to get up in front of the House yesterday and blame the Bush administration for this collapse is a bald face lie.


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