UNREAL! OBAMA ADMIN PRESSURES LENDERS TO LOAN TO HIGH-RISK SECTION 8 WELFARE TAKERSWe ve been doing articles on this for the past couple of years to tell everyone that the second housing bubble is being forced on the American taxpayers in the name of civil rights. Did we not learn from the first time around that lending to risky people is NOT a good idea no matter what color they are!This really is the definition of insanity   doing the same thing over and over and getting the same BAD results. The only thing is THIS IS YOUR MONEY THAT THE GOVERNMENT IS THROWING DOWN THE TOILET!If you need federal subsidies to pay your apartment rent, it s a good bet you can t afford to buy a new home. But don t tell that to the Obama regime. It s pressuring banks to lend even to Section 8 voucher recipients.In a new regulatory bulletin, the Consumer Financial Protection Bureau warns home lenders that they can be investigated for discrimination if they reject Section 8 vouchers as a valid source of income for low-income minorities applying for mortgages. The agency argues that underwriting policies that exclude such welfare payments could have a  disparate impact  on minority borrowers and therefore violate civil-rights laws. The bureau has become aware of one or more institutions excluding or refusing to consider income derived from the Section 8 HCV Homeownership Program during mortgage loan application and underwriting processes,  the three-page bulletin said. Explained CFPB Director Richard Cordray,  Consumers should not be put at a disadvantage just because they receive public assistance.  And strapping them with 30-year debt doesn t put them at a disadvantage? Did Cordray snooze through the subprime crisis? The Homeownership Voucher Program is a Clinton-era program that Obama has expanded. Under it, HUD (that is, you   the taxpayer) helps Sec. 8 recipients make monthly mortgage payments while also subsidizing other homeownership expenses for up to 15 years. The program is geared toward single moms who want to buy their first home. They have to earn at least $14,500 to qualify for the generous stipend, but if they receive Social Security Disability Insurance (SSDI) payments, there is no minimum income requirement. The only other requirement is they have to take a free, three-hour  homebuyer education  class prior to closing the loan. That s right, CFPB expects lenders to bank on the notion that a little financial counseling will turn welfare recipients into a low-risk homebuyers. Last year, the agency warned lenders that they also face race-bias lawsuits if they verify the income of minority borrowers on SSDI benefits. SSDI enrollment has exploded under Obama, and fraud is rampant in the program. A recent probe by Congress found doctors rubber-stamping claims under the program. A random review found that more than one in four cases failed to provide evidence to support claims. No wonder mortgage lenders have been asking for verification. Buried in the fine print of its new Qualified Mortgage rule, which the media erroneously claim is  strict,  CFPB actually mandates that payments from  government assistance programs are acceptable  forms of income for home-loan qualification. But don t stop there .CFPB has teamed up with the Justice Department to order the biggest mortgage lenders in the country, including Wells Fargo and Bank of America, to offer loans to people on  public assistance.  The government is now requiring them to post branch notices promoting the risky welfare acceptance policy. A mortgage requires a stable job and good income   as well as good credit   to avoid defaults and foreclosures. Though President Obama worries about declining home-buying among jobless or underemployed minorities, he s just setting them up for failure all over again by putting them in homes that they can t afford.ANOTHER GREAT ARTICLE AND SOURCE FOR THE BACKSTORY ON THIS MESS:OBAMA S HOUSE OF CARDS   NEW YORK POST, JULY 2012CFPB also has been working closely with the Justice Department to enhance fair lending enforcement. Justice has pressured banks to relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination, court documents show. Attorney General Eric Holder, who served as Reno s deputy, has filed a record number of fair-lending enforcement actions against lenders. More than 60 investigations are active or said to be in the pipeline, and dozens of banks have already settled, including giants Wells Fargo and Bank of America. Prosecutions have already generated more than $550 million in rebates, loan set-asides and other subsidies from banks that have settled out of court rather than battle the federal government and risk being branded racist by the media. Leading the charge is Holder s top civil-rights cop, Thomas Perez, another Clinton retread. Perez has compared bankers to Klansmen, arguing that while bankers may discriminate  with a smile  and  fine print,  it s  every bit as destructive as the cross burned in a neighborhood.  He says predatory lenders must now  repair some of the damage done to (minority) communities. Read More: IBDGovernment News
unreal obama admin pressures lenders to loan to section welfare takers articles past couple years tell everyone second housing bubble forced american taxpayers name civil rights did learn first time around lending risky people not good idea matter color this really definition insanity thing getting bad results the thing this is your money that the government is throwing down the toilet if need federal subsidies pay apartment rent good bet afford buy new home but tell obama regime it pressing banks lend even section voucher new regulatory bulletin consumer financial protection bureau warns home lenders investigated discrimination reject section vouchers valid source income minorities applying mortgages the agency argues underwriting policies exclude welfare payments could disparate impact minority borrowers therefore violate laws the bureau become aware one institutions excluding refusing consider income derived section hc homeownership program mortgage loan application underwriting processes bulletin said explained cfb director richard portray consumers put disadvantage receive public assistance and trapping debt put disadvantage did portray snooker surprise crisis the homeownership voucher program program obama expanded under had taxpayer helps sec recipients make monthly mortgage payments also subsidizing homeownership expenses years the program geared toward single moms want buy first home they earn least qualify generous stipend receive social security disability insurance ssd payments minimum income requirement the requirement take free homebuyer education class prior closing loan that right cfb expects lenders bank notion little financial counseling turn welfare recipients homebuyers last year agency warned lenders also face lawsuits verify income minority borrowers ssd benefits ssd enrollment exploded obama fraud rampant program a recent probe congress found doctors claims program a random review found one four cases failed provide evidence support claims no wonder mortgage lenders asking verification buried fine print new qualified mortgage rule media erroneously claim strict cfb actually mandates payments government assistance programs acceptable forms income qualification but stop teamed justice department order biggest mortgage lenders country including wells cargo bank america offer loans people public assistance the government requiring post branch notices promoting risky welfare acceptance policy a mortgage requires stable job good income well good credit avoid defaults foreclosure though president obama worries declining among nobles underemployed minorities setting failure putting homes great article and source for the backstory on this mess obama s house of cards new york post july also working closely justice department enhance fair lending enforcement justice pressured banks relax mortgage underwriting standards approve loans minorities poor credit part new crackdown alleged discrimination court documents show attorney general eric holder served reno deputy filed record number enforcement actions lenders more investigations active said pipeline dozens banks already settled including giants wells cargo bank america prosecutions already generated million debates loan subsidies banks settled court rather battle federal government risk branded racist media leading charge holder top cop thomas perez another clinton retreat perez compared bankers klansmen arguing bankers may discriminate smile fine print every bit destructive cross burned neighborhood he says predatory lenders must repair damage done minority communities read more ibdgovernment news
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: UNREAL! OBAMA ADMIN PRESSURES LENDERS TO LOAN TO HIGH-RISK SECTION 8 WELFARE TAKERSWe ve been doing articles on this for the past couple of years to tell everyone that the second housing bubble is being forced on the American taxpayers in the name of civil rights. Did we not learn from the first time around that lending to risky people is NOT a good idea no matter what color they are!This really is the definition of insanity   doing the same thing over and over and getting the same BAD results. The only thing is THIS IS YOUR MONEY THAT THE GOVERNMENT IS THROWING DOWN THE TOILET!If you need federal subsidies to pay your apartment rent, it s a good bet you can t afford to buy a new home. But don t tell that to the Obama regime. It s pressuring banks to lend even to Section 8 voucher recipients.In a new regulatory bulletin, the Consumer Financial Protection Bureau warns home lenders that they can be investigated for discrimination if they reject Section 8 vouchers as a valid source of income for low-income minorities applying for mortgages. The agency argues that underwriting policies that exclude such welfare payments could have a  disparate impact  on minority borrowers and therefore violate civil-rights laws. The bureau has become aware of one or more institutions excluding or refusing to consider income derived from the Section 8 HCV Homeownership Program during mortgage loan application and underwriting processes,  the three-page bulletin said. Explained CFPB Director Richard Cordray,  Consumers should not be put at a disadvantage just because they receive public assistance.  And strapping them with 30-year debt doesn t put them at a disadvantage? Did Cordray snooze through the subprime crisis? The Homeownership Voucher Program is a Clinton-era program that Obama has expanded. Under it, HUD (that is, you   the taxpayer) helps Sec. 8 recipients make monthly mortgage payments while also subsidizing other homeownership expenses for up to 15 years. The program is geared toward single moms who want to buy their first home. They have to earn at least $14,500 to qualify for the generous stipend, but if they receive Social Security Disability Insurance (SSDI) payments, there is no minimum income requirement. The only other requirement is they have to take a free, three-hour  homebuyer education  class prior to closing the loan. That s right, CFPB expects lenders to bank on the notion that a little financial counseling will turn welfare recipients into a low-risk homebuyers. Last year, the agency warned lenders that they also face race-bias lawsuits if they verify the income of minority borrowers on SSDI benefits. SSDI enrollment has exploded under Obama, and fraud is rampant in the program. A recent probe by Congress found doctors rubber-stamping claims under the program. A random review found that more than one in four cases failed to provide evidence to support claims. No wonder mortgage lenders have been asking for verification. Buried in the fine print of its new Qualified Mortgage rule, which the media erroneously claim is  strict,  CFPB actually mandates that payments from  government assistance programs are acceptable  forms of income for home-loan qualification. But don t stop there .CFPB has teamed up with the Justice Department to order the biggest mortgage lenders in the country, including Wells Fargo and Bank of America, to offer loans to people on  public assistance.  The government is now requiring them to post branch notices promoting the risky welfare acceptance policy. A mortgage requires a stable job and good income   as well as good credit   to avoid defaults and foreclosures. Though President Obama worries about declining home-buying among jobless or underemployed minorities, he s just setting them up for failure all over again by putting them in homes that they can t afford.ANOTHER GREAT ARTICLE AND SOURCE FOR THE BACKSTORY ON THIS MESS:OBAMA S HOUSE OF CARDS   NEW YORK POST, JULY 2012CFPB also has been working closely with the Justice Department to enhance fair lending enforcement. Justice has pressured banks to relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination, court documents show. Attorney General Eric Holder, who served as Reno s deputy, has filed a record number of fair-lending enforcement actions against lenders. More than 60 investigations are active or said to be in the pipeline, and dozens of banks have already settled, including giants Wells Fargo and Bank of America. Prosecutions have already generated more than $550 million in rebates, loan set-asides and other subsidies from banks that have settled out of court rather than battle the federal government and risk being branded racist by the media. Leading the charge is Holder s top civil-rights cop, Thomas Perez, another Clinton retread. Perez has compared bankers to Klansmen, arguing that while bankers may discriminate  with a smile  and  fine print,  it s  every bit as destructive as the cross burned in a neighborhood.  He says predatory lenders must now  repair some of the damage done to (minority) communities. Read More: IBDGovernment News
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: unreal obama admin pressures lenders to loan to section welfare takers articles past couple years tell everyone second housing bubble forced american taxpayers name civil rights did learn first time around lending risky people not good idea matter color this really definition insanity thing getting bad results the thing this is your money that the government is throwing down the toilet if need federal subsidies pay apartment rent good bet afford buy new home but tell obama regime it pressing banks lend even section voucher new regulatory bulletin consumer financial protection bureau warns home lenders investigated discrimination reject section vouchers valid source income minorities applying mortgages the agency argues underwriting policies exclude welfare payments could disparate impact minority borrowers therefore violate laws the bureau become aware one institutions excluding refusing consider income derived section hc homeownership program mortgage loan application underwriting processes bulletin said explained cfb director richard portray consumers put disadvantage receive public assistance and trapping debt put disadvantage did portray snooker surprise crisis the homeownership voucher program program obama expanded under had taxpayer helps sec recipients make monthly mortgage payments also subsidizing homeownership expenses years the program geared toward single moms want buy first home they earn least qualify generous stipend receive social security disability insurance ssd payments minimum income requirement the requirement take free homebuyer education class prior closing loan that right cfb expects lenders bank notion little financial counseling turn welfare recipients homebuyers last year agency warned lenders also face lawsuits verify income minority borrowers ssd benefits ssd enrollment exploded obama fraud rampant program a recent probe congress found doctors claims program a random review found one four cases failed provide evidence support claims no wonder mortgage lenders asking verification buried fine print new qualified mortgage rule media erroneously claim strict cfb actually mandates payments government assistance programs acceptable forms income qualification but stop teamed justice department order biggest mortgage lenders country including wells cargo bank america offer loans people public assistance the government requiring post branch notices promoting risky welfare acceptance policy a mortgage requires stable job good income well good credit avoid defaults foreclosure though president obama worries declining among nobles underemployed minorities setting failure putting homes great article and source for the backstory on this mess obama s house of cards new york post july also working closely justice department enhance fair lending enforcement justice pressured banks relax mortgage underwriting standards approve loans minorities poor credit part new crackdown alleged discrimination court documents show attorney general eric holder served reno deputy filed record number enforcement actions lenders more investigations active said pipeline dozens banks already settled including giants wells cargo bank america prosecutions already generated million debates loan subsidies banks settled court rather battle federal government risk branded racist media leading charge holder top cop thomas perez another clinton retreat perez compared bankers klansmen arguing bankers may discriminate smile fine print every bit destructive cross burned neighborhood he says predatory lenders must repair damage done minority communities read more ibdgovernment news