Fannie Mae (FNMA)

[Donotunderstand]

Dax

When did F and F start "buying" paper that did not have 20% down as part of the mortgage arrangement --- or the equivalent in PMI

To my knowledge NEVER

So as much as people want to think F and F gave away money to people who did not pay back due to GOV influence --- I find that hard to accept if I am right that any such leaning (and they did lean that way) still came with ONLY buying and packagaing paper with 20% down or PMI and 10% down

So yes F and F leaned to the middle class but it is HUD or FHA or ? that did the crazy 2-3-4% equity mortgage stuff - I think - and F and F while business like and liberal by their underwriting rules stayed smart --- until the very end to compete with the banks who went insane in whom they lent to