With private jumbo mortgages, if the appraisal indicates that the borrower's loan amount is more than 80% of the value of the home, the borrower will likely have to putmoremoneydown if he wants to proceed.
Far worse -- after every single reputable authority said this is a false charge, he put it on television and then doubled down and putmoremoney behind the ad -- because he believes that middle-class people are so scared about their jobs and so uninformed that they will buy any line of bull they see on television.
"It's about time the government stopped thinking about saving face, creating more uncertainty and wasting even moremoney on more legal challenges and sat down and worked out how we can put this on a sustainable footing, " she said.