Truthmatters
Diamond Member
- May 10, 2007
- 80,182
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- #101
A bunch
The Federal National Mortgage Association (Fannie Mae) is the nations largest mortgage buyer and a financial juggernaut that affects the lives of tens of millions of home buyers. It was taken over by the federal government on Sept. 8, 2008, along with Freddie Mac, as the two mortgage giants struggled with deep losses and investors lost confidence in the pair.
Federal National Mortgage Association Fannie Mae News - Company Information - The New York Times
EXACTLY.
They do not write loans...they are like a clearing house for loans.
And the truth is, they have a failed business model.
Why continue to support a failed business model?
You got my point they may not have written the loans but they accepted the loans. Which is worse?
Who is it that made money off the bad mortgages?
It was those who wrote them and then repackaged and sold them.
You didnt even know neough about this situation to realise they didnt write them.
Your opinion on the matter is not very useful as you dont understand the issue fully.
You can change that by accepting the facts and dropping the partisan bullshit line.