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Obama, Soccer Dork, May Be Involved In Mortgage Scandal

Posted by Brian Fairbanks

There's a boatload of media coverage this morning on Barack Obama's daughter's soccer game in Chicago. Bo-ring! and yet, at the same time, kind of makes him look human instead of like a robot created by Kodos and Kang.

Meanwhile, the Washington Post and other papers have been circling the story of Obama's discount mortgage loan, a deal which many people think could become a major scandal...

The LA Times, via the WaPo, breaks it down for us commonfolk:

"The freshman Democratic senator received a discount. He locked in an interest rate of 5.625 percent on the 30-year fixed-rate mortgage, below the average for such loans at the time in Chicago. The loan was unusually large, known in banker lingo as a 'super super jumbo.' Obama paid no origination fee or discount points, as some consumers do to reduce their interest rates. Compared with average terms offered at the time in Chicago, Obama's rate could have saved him more than $300 per month."

Sources inside the bank say the loan was entirely proper and Andrew Sullivan, conservative blogger and Obama supporter, has noted that unless the Washington Post somehow obtained Obama's FICO score (which is not mentioned in any news story), it must be assumed that it was good enough to qualify him for the discount. After all, he says

I would think that the Obamas were exceptionally creditworthy.
 
 
Via the Washington Post, via the LA Times. 

+ DIGG + DEL.ICIO.US + REDDIT

Comments

solstice2005 said:

BF, do you have anything against Obama?  It sure looks like it as yesterday by early PM this piece of "news"from yesterday AM's Washington Post had been generally found to be nothing more than a molehill. By keeping on talking about it are you trying to turn it into a mountain?  Fortunately you do not have the creds of something like the Drudge report!

July 3, 2008 10:32 AM

ella_belle said:

OH lord, what a terribly/lazily framed headline.

July 7, 2008 9:02 AM

About Brian Fairbanks

Brian Fairbanks, the Senior National Political Correspondent for Hooksexup, is a filmmaker living in the wilds of Brooklyn. He previously wrote for the Hartford Courant and Gawker/The Consumerist. He will be first against the wall, come the revolution.

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about the blogger

Emily Farris writes about culture and food for numerous publications and websites you've probably never heard of, including her own blog eefers. Her first cookbook will be published in fall 2008. Emily lives in Greenpoint, Brooklyn with her cat, but just one . . . so far.

Brian Fairbanks is a filmmaker living in the wilds of Brooklyn. He previously wrote for the Hartford Courant and Gawker. He won the Williamsburg Spelling Bee once. He loves cats, women with guns, and burning books.

Nicole Pasulka is a Brooklyn writer and editor who's always on the lookout for the dirty. Her other virtual home is at The Morning News, where things are squeaky clean most of the time.

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