re: Did anyone notice that Dodd Frank is about to be repealed?

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The crash was caused by policies which required/encouraged lenders to loan money to people for social justice reasons in an amout which exceeded what they could afford.

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Any banker that thinks this/says this, is a fricking moron. The CRA does not require banks to make bad loans. It requires banks to invest in communities in which they take deposits. There are plenty of good people in bad neighborhoods that have great credit. They might not be able to afford MUCH, but they can buy themselves a modest home with financing.

Ignoring the politics of the Act's inception, regulators enforce the law as written. If a bank has not been able to lend to low-to-moderate income individuals, there are almost always very good reasons. Namely, a lack of affordable housing. But bad credit is also a valid excuse not to lend.

Lending more than people could afford was a failure all around. No responsible banker would do such a thing. DTI is a simple calculation. Unethical assholes ignored their fiduciary duty in search of greed. But ultimately, the customer was the dumbfrick stupid enough to think, "I can totally afford these 3 houses."