For all those worrying yourselves about how you would get someone with no credit history to qualify for a conventional loan i can save you the time, you can't.  And in the wonderful world of liberal affordable housing policy you don't have to.  When you look at the moves made by this administration and down the rank and file of the left, extending lines of credit to people based on ethnic or religious background instead of ability to by a home on their own or qualify for credit has been part of their dogmatic march towards a perverse brand of egalitarianism for a while.  

 

The sad part is that in the end, the bad risk is pushed off the short term lenders books into the dark and murky underworld of derivatives and mortgage backed securities.  We see how well that worked out the last time right?

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