https://4closurefraud.org/2013/01/13/usury-laws-are-dead-long-live-the-new-usury-law-the-cfpbs-ability-to-repay-mortgage-rule/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Mon, 01 Dec 2025 19:27:53 +0000 hourly 1 https://wordpress.org/?v=7.0.4 https://4closurefraud.org/2013/01/13/usury-laws-are-dead-long-live-the-new-usury-law-the-cfpbs-ability-to-repay-mortgage-rule/#comment-406857 Sun, 13 Jan 2013 19:35:13 +0000 https://4closurefraud.org/?p=56711#comment-406857 Wow, can Levitin blow. He’s at Georgetown and now he’s at the CFPB. You can’t be too objectionable in either role.
This elaborate, and intentionally vague definition of a new effort doesn’t really state how consumers will be protected. Banks will be protected. They issued a qualified mortgage, but
all their stuff during the bubble was “qualified” wasn’t it? Now we can make sure to blow another bubble. I haven’t read all of Levitin, but he just can’t quite admit, understand or acknowledge a thing or two. At the most basic level what does the interest rate have to do with an unpayable debt? More unpayable? Sometimes the more popular an academic writer is, the less credible they are, or in Levitin’s case, morally handicapped? We know Wall Street is morally bankrupt, but perhaps an editorial career requires a signifigant sacrifice of principles. As Levitin would stupidly say “that’s lefty”. Well, he’s not going to be on the street, either are his friends in the industry.

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