Mortgage Lending Criteria
A thought-provoking questions about record foreclosures and Fannie Freddie bailout?
Ok, record foreclosures are mostly blamed on a subprime loan crisis …. Fannie and Freddie did not make subprime loans. Their loans in accordance with their lending criteria went to people who were fully checked out and do enough to buy the houses they buy and they also offered none of these extremely low starting ARMs starting at 1% rate, etc … So if it does, Why Fannie and Freddie loans potfolios be problematic to the point where a bailout was necessary? Is there more to the cause of the foreclosure crisis than just people become bad loans? strange how nobody ever mentions the economy for some very strange reason. lol The economy is in a meltdown …. and all possible indicators are pointing in the wrong direction, and no one says that the economy is still partly responsible.
This is all a big Ponzi scheme from I can tell. Gave loans for people who can not afford it, and then the loans were many hands to guarantee securities. We should not give irresponsible people they like and learn that lesson instead of being rewarded.