It wasn't FnF that made it possible, it was an incompetent Congress that "made" [more like forced] banks to make these loans to individuals who otherwise couldn't qualify for the amount of loans they were getting
This has been shown to be a lie a conspiracy
What we also learned was that TBTF banks issued mortgages
1. Without verifying income in any way - indeed telling people they can add more to income as no one will look
2. At interest only for 5 years and then an amortized 10 year loan so payments go up 4-5 times (works if everyone sells and prices keep going up so you can sell - but its a nuclear explosion waiting to go off the minute prices go down)
3. 100% loans (not HUD but regular customers) the old 80-10-10 loan. You borrow 80% at normal interest and then 10% at higher interest and then another 10% at super high interest (and then the TBTF banks create mortgage backed paper with high and higher interest rates for investors -- backed ONLY by the top 10% - which blew up the minute housing prices went down 5% … that loud noise was bank junk blowing up
etc. Real culprits were not F and F
Real culprits were not congress rules
Those who so suggest have bought the paid for propaganda put out by the TBTF banks
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