Fannie Mae-No Politics (FNMA)

[Donotunderstand]

The banks used the cover of "supposed GOV made me shoot myself" to make idiotic loans

We all heard over and over about loan officers telling applicants how much income to put down (so it would be enough)

We all heard over and over how banks did not check out income or tons of the information presented to them

Banks were not in a rush to make Affordable loans etc.

Banks were in a rush and hurry to make every possible loan - with sales contests and NO ONE caring about the quality of ANY loan as they off loaded the risk on F and F and others

Often the bank took a 5% up front tranche to "show good faith" and then the package would lose 40% of its value at F and F when bank had made its money

Sorry but it is beyond my capacity to calculate how affordable loans are the reason a 100T or whatever industry collapsed