Toddsterpatriot
Diamond Member
No. They got in late on the stupid GOP corruption...funny how Fannie and Freddie's share of the market went down 60 70 per cent in 2003, eh dupe?DO YOU SERIOUSLY NOT SEE 40-50% default rates in private market
I see them right there in your chart.
A 15% default rate is no big deal?
Every market participator lost money on real estate collapse, but by far the biggest loss was stemming from private market origination, not lending under CRA.
Absolutely. CRA was only one factor of many that contributed.
Well if you SEE THEM, and are not intellectually impaired, then I don't understand what is keeping you from concluding that they were clearly the main contributors, with considerably poorer standards of underwriting and much bigger losses than mortgages issued under CRA program.
Instead of accounting for the evidence you keep repeating same COUNTER-FACTUAL position that it was CRA mortgages and not clearly inferior quality private market subprime that took us under.
Well if you SEE THEM, and are not intellectually impaired, then I don't understand what is keeping you from concluding that they were clearly the main contributors, with considerably poorer standards of underwriting and much bigger losses than mortgages issued under CRA program.
It's true, the mandated demand for crappy mortgages by Fannie and Freddie was a much larger contributor than the mandated CRA crappy mortgages.
funny how Fannie and Freddie's share of the market went down 60 70 per cent in 2003
Anything to do with the Democrat accounting scandal at Fannie and Freddie? Moron.
Hey, lets buy a couple of hundred billion in crappy mortgages to get that share back up, eh?
What could go wrong?
As a result, in 2008, before the mortgage meltdown that triggered the crisis, there were 27 million subprime and other low quality mortgages in the US financial system. That was half of all mortgages. Of these, over 70% (19.2 million) were on the books of government agencies like Fannie and Freddie,
Hey, Barney Frank: The Government Did Cause the Housing Crisis
DERP!