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Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
They should have higher standards than private lenders, the taxpayers are on the hook!!
That ignores the point that Clinton weakened their standards.
They used to only buy "conforming loans", until Clinton forced then to buy subprime mortgages.
www.theatlantic.com
Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
They should have higher standards than private lenders, the taxpayers are on the hook!!
That ignores the point that Clinton weakened their standards.
They used to only buy "conforming loans", until Clinton forced then to buy subprime mortgages.
And yet there was no subprime crisis in the 90s.
That was because the subprime mortgage became a business for many black people who couldnt afford a loan. I saw first hand in Maryland these buyers going into communities buying up parcels and building 2 or 3 homes without any collateral down, and then hopefully turn a profit selling before their ARM went into full interest after 5 years. Then in 2004 the Congress starts asking questions. Barney Frank, Maxine Waters and Chriss Dodd, use the racists tactic to stop redlining those who shoudnt have a loan.Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
They should have higher standards than private lenders, the taxpayers are on the hook!!
That ignores the point that Clinton weakened their standards.
They used to only buy "conforming loans", until Clinton forced then to buy subprime mortgages.
And yet there was no subprime crisis in the 90s.
That was because the subprime mortgage became a business for many black people who couldnt afford a loan. I saw first hand in Maryland these buyers going into communities buying up parcels and building 2 or 3 homes without any collateral down, and then hopefully turn a profit selling before their ARM went into full interest after 5 years. Then in 2004 the Congress starts asking questions. Barney Frank, Maxine Waters and Chriss Dodd, use the racists tactic to stop redlining those who shoudnt have a loan.Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
They should have higher standards than private lenders, the taxpayers are on the hook!!
That ignores the point that Clinton weakened their standards.
They used to only buy "conforming loans", until Clinton forced then to buy subprime mortgages.
And yet there was no subprime crisis in the 90s.
That was because the subprime mortgage became a business for many black people who couldnt afford a loan. I saw first hand in Maryland these buyers going into communities buying up parcels and building 2 or 3 homes without any collateral down, and then hopefully turn a profit selling before their ARM went into full interest after 5 years. Then in 2004 the Congress starts asking questions. Barney Frank, Maxine Waters and Chriss Dodd, use the racists tactic to stop redlining those who shoudnt have a loan.Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
They should have higher standards than private lenders, the taxpayers are on the hook!!
That ignores the point that Clinton weakened their standards.
They used to only buy "conforming loans", until Clinton forced then to buy subprime mortgages.
And yet there was no subprime crisis in the 90s.
White people accounted for the majority of subprime originations and the majority of foreclosures during the subprime crisis. Black borrowers were only a small fraction.
That was because the subprime mortgage became a business for many black people who couldnt afford a loan. I saw first hand in Maryland these buyers going into communities buying up parcels and building 2 or 3 homes without any collateral down, and then hopefully turn a profit selling before their ARM went into full interest after 5 years. Then in 2004 the Congress starts asking questions. Barney Frank, Maxine Waters and Chriss Dodd, use the racists tactic to stop redlining those who shoudnt have a loan.Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
They should have higher standards than private lenders, the taxpayers are on the hook!!
That ignores the point that Clinton weakened their standards.
They used to only buy "conforming loans", until Clinton forced then to buy subprime mortgages.
And yet there was no subprime crisis in the 90s.
White people accounted for the majority of subprime originations and the majority of foreclosures during the subprime crisis. Black borrowers were only a small fraction.
But foreclosed on at a higher rate.
That was because the subprime mortgage became a business for many black people who couldnt afford a loan. I saw first hand in Maryland these buyers going into communities buying up parcels and building 2 or 3 homes without any collateral down, and then hopefully turn a profit selling before their ARM went into full interest after 5 years. Then in 2004 the Congress starts asking questions. Barney Frank, Maxine Waters and Chriss Dodd, use the racists tactic to stop redlining those who shoudnt have a loan.Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
They should have higher standards than private lenders, the taxpayers are on the hook!!
That ignores the point that Clinton weakened their standards.
They used to only buy "conforming loans", until Clinton forced then to buy subprime mortgages.
And yet there was no subprime crisis in the 90s.
White people accounted for the majority of subprime originations and the majority of foreclosures during the subprime crisis. Black borrowers were only a small fraction.
But foreclosed on at a higher rate.
So? They were a tiny fraction of the overall picture.
That was because the subprime mortgage became a business for many black people who couldnt afford a loan. I saw first hand in Maryland these buyers going into communities buying up parcels and building 2 or 3 homes without any collateral down, and then hopefully turn a profit selling before their ARM went into full interest after 5 years. Then in 2004 the Congress starts asking questions. Barney Frank, Maxine Waters and Chriss Dodd, use the racists tactic to stop redlining those who shoudnt have a loan.Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
They should have higher standards than private lenders, the taxpayers are on the hook!!
That ignores the point that Clinton weakened their standards.
They used to only buy "conforming loans", until Clinton forced then to buy subprime mortgages.
And yet there was no subprime crisis in the 90s.
White people accounted for the majority of subprime originations and the majority of foreclosures during the subprime crisis. Black borrowers were only a small fraction.
But foreclosed on at a higher rate.
So? They were a tiny fraction of the overall picture.
So? Their higher rate of foreclosure was due to the pushing of mortgages
to people with lower credit scores. Aided by Clinton's mandate that Fannie and Freddie buy
subprime crap.
That was because the subprime mortgage became a business for many black people who couldnt afford a loan. I saw first hand in Maryland these buyers going into communities buying up parcels and building 2 or 3 homes without any collateral down, and then hopefully turn a profit selling before their ARM went into full interest after 5 years. Then in 2004 the Congress starts asking questions. Barney Frank, Maxine Waters and Chriss Dodd, use the racists tactic to stop redlining those who shoudnt have a loan.Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
They should have higher standards than private lenders, the taxpayers are on the hook!!
That ignores the point that Clinton weakened their standards.
They used to only buy "conforming loans", until Clinton forced then to buy subprime mortgages.
And yet there was no subprime crisis in the 90s.
White people accounted for the majority of subprime originations and the majority of foreclosures during the subprime crisis. Black borrowers were only a small fraction.
But foreclosed on at a higher rate.
So? They were a tiny fraction of the overall picture.
So? Their higher rate of foreclosure was due to the pushing of mortgages
to people with lower credit scores. Aided by Clinton's mandate that Fannie and Freddie buy
subprime crap.
But given they were such a small part of the foreclosures, they couldn’t possible be responsible for the crisis.
That was because the subprime mortgage became a business for many black people who couldnt afford a loan. I saw first hand in Maryland these buyers going into communities buying up parcels and building 2 or 3 homes without any collateral down, and then hopefully turn a profit selling before their ARM went into full interest after 5 years. Then in 2004 the Congress starts asking questions. Barney Frank, Maxine Waters and Chriss Dodd, use the racists tactic to stop redlining those who shoudnt have a loan.Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
They should have higher standards than private lenders, the taxpayers are on the hook!!
That ignores the point that Clinton weakened their standards.
They used to only buy "conforming loans", until Clinton forced then to buy subprime mortgages.
And yet there was no subprime crisis in the 90s.
White people accounted for the majority of subprime originations and the majority of foreclosures during the subprime crisis. Black borrowers were only a small fraction.
But foreclosed on at a higher rate.
So? They were a tiny fraction of the overall picture.
So? Their higher rate of foreclosure was due to the pushing of mortgages
to people with lower credit scores. Aided by Clinton's mandate that Fannie and Freddie buy
subprime crap.
But given they were such a small part of the foreclosures, they couldn’t possible be responsible for the crisis.
That was because the subprime mortgage became a business for many black people who couldnt afford a loan. I saw first hand in Maryland these buyers going into communities buying up parcels and building 2 or 3 homes without any collateral down, and then hopefully turn a profit selling before their ARM went into full interest after 5 years. Then in 2004 the Congress starts asking questions. Barney Frank, Maxine Waters and Chriss Dodd, use the racists tactic to stop redlining those who shoudnt have a loan.Nope! They had better standards than the private sector by far.Nope! They had better standards than the private sector by far. Fannie and Freddie were hemorrhaging market share to private lenders during the subprime crisis.The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.What was false about it?False and revisionist history.The brown turd's debt was accrued because Nancy Pelosi and the Demoncraps didnt stop the Fannie Freddie debacle from happening. Because of that, the smelly excrement Oblummer got to spend 1.5 trillion dollars a year, and still had the highest amount in poverty since the war on poverty started. Thanks Oblummer...Simple answer, Obama stifled the US economy with regulations and moving jobs and factories overseas. It was an "unforced error", i.e. "those jobs are not coming back".You mean aside from his failed leadership resulting in far more economic damage than was necessary?WTF does Trump have to do with all the money the Fed and Congress is throwing at the COVID pandemic?
Here's an interesting question. Why is the fiscal and monetary response to COVID on Congress and the Fed when Congress and the Fed's response to the Bush recession was on Obama?
psssssssssst..i know why.
Trump's Debt was due to external circumstances. The strongest economy the world had ever seen was shutdown for 3-months or so.
See the difference? One Debt addition was unforced, and one was externally forced.
Obama's debt was incurred due to an economic collapse that predated his administration, which is an external circumstance.
Trump's massive debt was accrued as a direct result of his policies for tax cuts and then exacerbated by his inability to control the spread of COVID 19.
The dramatic change in the mortgage industry leading into the subprime crisis was the involvement of private mortgage lenders who drove down the requirements for mortgages. Fannie and Freddie had little if anything to do with it.
It was primarily unregulated free market capitalism.
Completely false
It was overregulation by Democrats who were dead set on getting losers into homes that they could never afford to pay for.
That's the root cause.
False. The vast majority of subprime mortgages were written by specialty mortgage brokers who were not subject to the CRS. Those regulations had been present for decades but there was never any subprime crisis.
The writing of mortgages was pushed by private lenders who were making money by processing them and selling off the junk to unwitting investors.
How much of the junk was bought by Fannie and Freddie?
Very little. Fannie and Freddie had far higher underwriting standards. It was sold to investment firms who sold it to investors and made a ton of money off of it. Default rates for the mortgages sold to investment firms was 6 times that which was bought by Fannie and Freddie.
Very little.
How little?
Fannie and Freddie had far higher underwriting standards.
They used to, until Clinton, and later Bush, forced them to buy subprime junk.
View attachment 334787
They did. Before Clinton.
Nope. They had better standards before Clinton. After Clinton. During Bush. At all times during the housing boom. It’s the reason they lost so much market share, because they had higher standards.
They had better standards before Clinton.
And then he weakened them.
Their standards were always higher than private lenders who precipitated the crisis.
They should have higher standards than private lenders, the taxpayers are on the hook!!
That ignores the point that Clinton weakened their standards.
They used to only buy "conforming loans", until Clinton forced then to buy subprime mortgages.
And yet there was no subprime crisis in the 90s.
White people accounted for the majority of subprime originations and the majority of foreclosures during the subprime crisis. Black borrowers were only a small fraction.
But foreclosed on at a higher rate.
So? They were a tiny fraction of the overall picture.
So? Their higher rate of foreclosure was due to the pushing of mortgages
to people with lower credit scores. Aided by Clinton's mandate that Fannie and Freddie buy
subprime crap.
But given they were such a small part of the foreclosures, they couldn’t possible be responsible for the crisis.
Negroes aren't really responsible for anything, now are they.
