By Mark Greene | Forbes
When Bloomberg reported earlier this month that former Fed Chair Ben Bernanke was unable to refinance his mortgage, the financial and regulatory conspiracy theorists wasted no time offering up their expertise as to why. “The pendulum had swung too far, changing jobs is a deal breaker, jumbo loans are harder to get, jumbo loans are easier to get, the mortgage interest tax deduction is evil, the 2-year rule got `em, if this guy is having trouble, the rest of us are doomed, and on and on”
A host of “informed insiders” and “industry experts” were quick to deride current mortgage lending practices and opined about how credit is too tight and how it is hurting the economy in general and the housing markets and consumer financial wherewithal specifically.
