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Obama Loan Based on Good Credit
By Jay AllbrittonJul 6th 2008 4:31PM
Filed Under:eBarack Obama, Breaking News, 2008 President, Scandal
Inaccurate campaign stories about Barack Obama have been really piling up over the last couple weeks. There was the bogus story of the kid Obama allegedly refused to give the terrorist fist jab, the correction Fox News anchor Brit Hume issued after claiming Obama's half brother had told The Jerusalem Post that Obama had a "Muslim background", and AP reporter Jennifer Loven's assertion that Obama shifted his Iraq position to "withdrawing combat troops could take as long as 16 months" despite evidence that Obama has had a 16 month plan for withdrawal since 2007. The worst of the stories may have been the Washington Post's expose that revealed the Obama's mortgage loan came at an interest rate that was "below the average" for 30-year fixed rate loans. Turns out this was because the Obama's have good credit.
FiveThirtyEight Blogger Nate Silver wrote, "It took more than four months, but something finally beat out the Vicki Iseman story for its sheer chutzpah and utter irresponsibility." Silver goes on to explain that according to the website myFICO.com "a borrower with very good credit can expect a mortgage rate about 30 basis points better than someone with pretty good credit, and a borrower with excellent credit can expect about a 50 basis point discount." The Obamas' mortgage rate was 30 points better than average.
Political Animal's Kevin Drum, with tongue-in-cheek, demands that the Obamas release their FICO score immediately. He calls this (non-)story "a complete non-scandal over the fact that people with high incomes generally qualify for slightly better mortgage rates than regular working stiffs. Is there something in the water back in DC, or what?"
Recent Comments
(Page 1 of 9)Isabel5:47PMJul 6th 2008
According to REC records Obama received campaign support from executives and board members of Northern Trust from whom he received preferential treatment on his 2005 mortgage & for his 2004 Senatorial Campaign. and also this year's presidential election campaign.In 2003 for his bid to the senate William Osborn, chairman of Northern Trust and director of the Federal Reserve contributed to his campaign.His contributions were received from Darrell Jackson, president and CEO of Northern Trust, and Barbara Lumpkin, John Bross and many others. His rise to power has been a direct result of his ties to a corrupt Chicago Political machine driven by a never ending pursuit for power. His Chicago political connections are responsible for millions of dollars in campaign contributions. Money talks, Bull---- walks.
OhReally5:58PMJul 6th 2008
Countrywide Owns Obama »
By Larry Johnson
This is the kind of “new” politician Barack Obama represents–he has collected more money from Countrywide Financial in the last four years than any other member of Congress and, in exchange, sponsored legislation favorable to Countrywide. Got that?
Royce R Ca $37,500; Kanjorsky Pa $24,250, Obama Il $22,900
Note that this chart covers money received since 1989 and Mr. Obama has only been in the Congress since 2004. What a money grubbing hypocrite. Obama has raked it in faster than any member of Congress. And, surprise of all surprises, Barack joined Senator Chris Dodd in co-sponsoring a housing relief bill that encouraged lenders to refinance and stabilize existing mortgages. Of course, said lenders make money off of the refinancing loans.
Maybe Barack can do for American homeowners what he has done for the poor blacks of Chicago
Justin has a story today about Obama receiving a discounted mortgage from Countrywide.
For SHAME
r w6:11PMJul 6th 2008
It seems that the liberal media - especially the liberals that report here on AOL - are stupidly pushing this creep on America, a person that can ONLY be described as a marxist. This person stands for everything America has fought against for the last 100 years (communism), but the liberals here are too stupid to see it. William Ayers, Rev. WRight, Tony Reszko, all birds of a feather that flock with OBAMA - OBAMA is a slimy scumbag and anyone that is willing to vote for him for any reason, is an idiot or anti-american. P.S. This story does not report that OBAMA was given the favorable rate WAYYYY before he could prove he was at a higher income level - FACT: No one other than a crooked senator could have gotten this rate with the same qualifications he had at the time he got it.
jblsus6:16PMJul 6th 2008
He (Obama) will say or do anything he has to in order to get himself elected. Reverend Wright as right on that point. If you want to accelerate the "apocolypse", elect Obama.
Dee6:17PMJul 6th 2008
Yeah........"CHANGE"...!!!
"Depends on what IS...IS."
"I did not have friendly relations with that Mortgage Company.........Countrywide."
Sound familiar?
jblsus6:23PMJul 6th 2008
A Chicago politician who gets their hands caught in the cookie jar? Say it aint so! Nice going Obama. Real change...lol
jbracale6:34PMJul 6th 2008
OBAMA ALSO GOT LOWER HOUSE TAXES TOO, NOW WHO WOULD HAVE DONE THAT?(ONE OF HIS DIRTY FRIENDS I HEAR) KENNEDY PAID FOR THE REV TO SHUT UP TILL AFTER THE ELECTION, AND I AM SURE PELOSI AND REID ARE FETCHING SOME $ SO HE STAYS ON TOP, THEY SURE DON'T WANT THE REPUBS TO WIN! WELL THE FRIENDS FOR HILLARY DON'T CARE WHAT THEY DO, 100,000 AND GOING STRONG (NO VOTE FOR OBAMA!) ALOT OS US ARE VOTING MCCAIN, THEN HOPFULLY HILLARY WILL RUN AGAIN IN 2012! OBAMA TOLD HIS WIFE WHEN HE DECIDED TO RUN THIS WOULD BE THE ONLY TIME, HE HAS "CHANGED" HIS CHANGES SO MUCH, HE PROBABLY CHANGED THEM AS MANY TIMES AS HIS BOXERS!!!
FOXYLYNX6:34PMJul 6th 2008
OBAMA - YES TO FISA, NO TO CAMPAIGN FINANCE, NO TO DRILLING HERE AND NOW, NO TO NUCLEAR, NO TO COAL, YES TO THE BIGGEST PORK FARM BILL OF ALL TIME. THIS IS CHANGE WE CAN NOT AFFORD TO BELIEVE IN.
belle6:40PMJul 6th 2008
Just say NO to Obama in November.
Jim6:58PMJul 6th 2008
The Obamas shouldn't have qualifed for the loan in the first place..They didn't make enough between then to qualify for that size of loan..
Tommy Christopher7:17PMJul 6th 2008
Jay,
guess WaPo should've gone to F R E E that spells free, credit report dot com, baby!
mountainlion7:17PMJul 6th 2008
exactly jim.....how did the obama's qualify for that big of a loan ? it all goes back to rezko and the illinois governor. the politics of dirty chicago politians. get it america ? obama is very dirty, and lots more to come out. just remember, the obama machine corrupted and bought off an entire political party, the dumocrats ! they hijacked my party, justsaynodeal/puma's......vote mccain, no ovomit.
mountainlion7:22PMJul 6th 2008
go away, tommy c. official obama ass kisser. change the red map, obama boy is not so popular anymore in here. get back to your own stupid blog, this is the adult portion of aol. puma
Old Lady USA7:35PMJul 6th 2008
OhReally 6:23PM Jul 6th 2008
If freedom for you to do what you do was not so central to our Election 2.0, I'd LOVE to see Lessig sue your ass off.... ah hem, pardon me....
mountainlion 7:22PM Jul 6th 2008
here kitty kitty kitty....
C. Jenkins7:39PMJul 6th 2008
Jim,
Are you a Mortgage Loan Officer? If not where are you getting such information?
Julie7:39PMJul 6th 2008
YOU CAN TRY AS YOU MAY,
YOUR LIES. EXAGGERATIONS, FICTIONAL DAYDREAMS
ABOUT OBAMA WILL AMOUNT TO A SCI-FI MOVIE
IN YOUR OWN MIND!
THE MAN HAS IT! AND I AM GRATEFUL TO HAVE HIM
BECOME PRESIDENT.
HE'S THE BEST ONE THERE.
McCAIN IS IN NEED OF A CANE!
C. Jenkins7:43PMJul 6th 2008
All of you McCain lovers will have ample opportunity to lick your wounds as Senator Obama takes the "Oath of Office."
OhReally7:44PMJul 6th 2008
Just reporting information that is available to anyone who is inclined to look Old Lady
C. Jenkins7:45PMJul 6th 2008
Ann,
You've certainly been using that tiny little shovel quite frequently. All you have dug up is worms so "go fishing."
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OhReally5:45PMJul 6th 2008
and "Pile Up" they should because they are true.
The Obama Boys campaign must be desperate because the Kool Aid has vinegar in it.