It's All OK Now - They Just Didn't Know Any Better!

Well, I for one am very relieved. This whole mortgage and housing crisis can never happen again. Our government is going to make sure. Let's see how we got here to start with:

• Lenders, out of greed, loaned money to anybody with a pulse.
• Appraisers satisfied lender demands for over-valuation, but it wasn't their fault ... they were pressured.
• Lenders courted marginal prospects who were loaned more than they could afford on homes that were over-valued.
• Wall Street types packaged and re-sold these loans over and over, with guarantees of insurance that didn't exist.

Fear not, the cavalry is here. Our newest "protect us" agency, the FHFA (Federal Housing Finance Agency), has come to the rescue in a decisive manner. After all of that very unethical and many times illegal behavior that brought us to this mess, they are fixing it with a ... REALLY ... Home Valuation Code of Conduct.

I, for one, am feeling much comforted.