Look, DoNot, it's IMPORTANT that you understand that since the first Mortgage Backed Security was issued on or about 1982 by Fannie Mae and Freddie Mac ALL THE WAY UP TO THE PRESENT, that the Conspicuous Language is stated on the 1st page of the MBS Prospectus. It's also present in the Prospectus of Debt Securities issued by the GSE'S. It's probably mentioned somewhere in your JPS Prospectus as well.
Click the link and pull up ANY MBS PROSPECTUS, the language is ALWAYS THERE!
David Stevens and the Banking and Real Estate Industry crowd have been asking and lobbying for AN EXPLICIT FEDERAL GOVERNMENT GUARANTEE since shortly after the 2008 Great Financial Crisis.
Costs for Uncle Suggy and the American Taxpayer with an IMPLICIT GUARANTEE: 0
Costs for Uncle Suggy and the American Taxpayer with an EXPLICIT GUARANTEE: The potential to be financially on the hook for $7.6 TRILLION DOLLARS IN OUTSTANDING MBS PRINCIPAL PLUS A COUPLE HUNDRED BILLION IN INTEREST.
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