The Real Mortgage Crisis Is Too Much Paperwork
Regardless of the truth of allegations against Fed Governor Lisa Cook and others, it’s clear that the process of getting a mortgage is far too onerous.
Does it really need to be hundreds of pages?
Photographer: David Paul Morris/Bloomberg
It’s far too soon to say whether the allegations of mortgage fraud against Democratic Senator Adam Schiff of California, New York Attorney General Letitia James and Federal Reserve Board Governor Lisa Cook are true. After all, in the US, one is innocent until proven guilty in a court of law — at least that’s how it’s supposed work, though President Donald Trump’s vow to fire Cook unless she resigns calls that principle into question.
Regardless of how this story shakes out, however, there’s one thing all Americans should be able to agree on: The process of getting a mortgage is way too onerous and prone to mistakes.