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re: Fannie Mae Reports Massive Q3 Loss, Asks For Another $15 Bil
Posted on 11/5/09 at 6:14 pm to kfizzle85
Posted on 11/5/09 at 6:14 pm to kfizzle85
I guess that is what happens when so many borrowers start believing it's acceptable to walk away from a loan obligation simply because they think it's in their best interest.
It's a shame our society has devolved to that.
It's a shame our society has devolved to that.
2
Posted on 11/5/09 at 7:35 pm to LSURussian
Doesn't this go back to the government pushing for loans to those with riskier profiles?
Posted on 11/5/09 at 9:55 pm to LSURussian
in case you haven't noticed, the unemployment rate is near ten percent, higher if you use other categories. you can't blame the majority of this on people walking away but a bad economy and people simply can't afford their homes when they don't have jobs. Two things take it badly in such an economy: Housing sales and car sales. Now people are out of work and Fannie is going to take a major hit.
Not to mention all the 100% my community mortgages it gave to people with 570 credit scores or 10 investment properties it financed at90% LTV for stated income/verified assets borrowers.
Not to mention all the 100% my community mortgages it gave to people with 570 credit scores or 10 investment properties it financed at90% LTV for stated income/verified assets borrowers.
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