Thursday, November 07, 2013 9:28:09 PM
The housing agency, you'll recall, enforced subprime quotas at Fannie and Freddie
Yep. President Bush's HUD ratcheted up the main affordable-housing goal over the next four years, from 50 percent to 56 percent. John C. Weicher, then an assistant HUD secretary, said the institutions lagged behind even the private market and "must do more."
So
1) The government didn't force mortgage companies to issue sub-prime loans, they did tell FnF to back more of them to 'catch up' to the private market.
2)It wasn't Barney Frank.
Even then FnF loans outperformed private issue.
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