Replies to post #188533 on Mr Cooper Group Inc (COOP)

[DPincus]

Then a whole bunch of other people better be ready to share the pain, because the practice was, and still is, rampant. - DP

[alliecorp]

Well let's put the blame right back to where it originated then. These alternative "questionable lending practices" had to start somewhere. Politicians should look in their own back yard first, especially Congress...this has been going on for a long time.

1971
Brian Chisick opens the First Alliance Mortgage Company, a consumer finance company. First Alliance would achieve exponential growth in the 1980’s after Congress deregulates and erases most state restrictions on the ''alternative'' type loans that Chisick offered.

http://www.cbc.ca/fifth/2009-2010/house_of_cards/timeline.html