They ARE the problem.  ARMs are just part of it.  Giving loans to those who cannot afford them or do not have the discipline to pay them is the problem and the CRA is a big part of that.  Some ARMS are failing, not all. SOme fixed are failing, not all.  Singling out one type of loan misses the big picture.  Giving loans to those not ready to assume the responsibility all in the name of "good intentions".

ARMS are the problem. You can see it in the Foreclosure Statistics. It is why we now have the Housing and Economic Recovery Act of 2008 which btw affects the the way the Housing Trust Fund and Capital Management Funds are allocated. It allows people to swap out of arms that were created from predatory lendors to fixed rate mortgages that not only help the borrower but also helps boost the assets in Fannie and Freddie.

No doc and ninja loans are the creation of market swindlers not CRA or HUD.

I really don't care if it was 20% or .02%.  There shouldn't be any kind of earmark for ACORN in there!

There isn't. The part of the bill addressing the issue funnels money to a fund which helps hud get ARM's converted to Fixed rate mortgages. It is first of all NOT an earmark and second of all something that supports a bill which came out of Fannie/Freddie hearings to try to keep the housing sector of the economy from falling off a cliff. The whole Acorn rhetoric is hogwash.

This section has bipartisan support in the Senate, the support of both Paulson and Bernanke. Paulson and Bernanke were also instrumental in creating the legislation which reformed the way the Funds mentioned above were restructured to serve the purpose of the Fannie/Freddie reform which happened over the summer. I know I saw the hearings and continue to watch the hearings they are involved with concerning the housing market which are probably archived on the CSPAN website if you wish to see them.

THERE IS NO EARMARK ITS THAT SIMPLE

ACORN - a program that ensures there will be plenty of nuts LEFT in the future.

"The Housing Trust Fund is a way of funding ACORN, La Raza, and other groups that time and again are caught doing voter fraud operations for the Democrats." Link

Of course not since it was removed. But it makes you wonder why? The answer is obvious, but I am sure you will have one that will defend the Democrats yet again rather than simply putting the truth out there as you claim you are here to do.

Link to another forum post...DOH

ACORN Housing sure, but there are many other groups out there that it funds...Mainly ones that use the GSA's the way they were meant to be used. By selling the actual mortgages to the GSA's so that they have actual assets backing them up instead of having the bogus mbs's that Wall St. creates.

Im not defending the Democrats....I agree with those who know how important it is to do things to help fix the mortgage market and that is what that provision does. This would include Dems. Reps. and Inds. who voted not only for this bill but also for the GSA' reform bill that passed over the summer.

People need to start to realize that this isnt a Wall St. bailout. It is a fix for the current state of the credit market and more importantly should help ease the economic downturn so that it is not as bad as it could be,

Once again you are incorrect.