(04-06-2024, 08:10 AM)mikesez Wrote:

(04-05-2024, 11:18 PM)Sneakers Wrote: LOL.  Every time I forget how naive you are, you pop into a thread to remind me.

How do you know Hankey's firm was Trump's only option, rather than the most economical?  

Hey, what a coincidence, those are the same usury laws I learned about in economics and business law classes.  Sorry to tell you that you're once again incorrect.  They don't "...prevent subprime lenders from even doing business."  Usury laws specifically limit the rate of interest a lender can charge, whereas "subprime" is a general reference to borrowers of below average credit score.  Subprime lenders are free to loan at any rate not more than state limits to any borrower.  The repo rate in subprime however, is 30% and nobody loans to subprime customers at the same rate as borrowers with good credit, because it's simply not profitable.

Sounds like you didn't get much of an education in college..............not all of us found promiscuous coeds to be undesirable.   

If the risk assessment says the interest rate should be 10%, but the state maximum rate is 6%, the loan is not originated and the subprime ANY lender (CHASE, WELLS FARGO, subprime, etc.) is not able DECLINES to do that business.