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Originally Posted by sperbonzo
that's exactly what everybody was saying in 2002, when they were "making it easier for people to buy homes", and "Fannie May and Freddie Mac are perfectly solid", and "low interest rates help the little guy afford a home", etc, etc, etc....
"sigh".... Never Mind.
I think it's time for that drink now.... a little early in the day maybe, but.... I'm just going to walk away.
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no, it doesn't seem to be like that at all, it's a refinance.
there are no lower standards/fraud, etc. that was part & partial of that trend.
from the article
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A mass refinancing plan would spread the benefits of the Federal Reserve’s most important economic policy response, low interest rates, to more people. As of July, an estimated $2.4 trillion in mortgages backed by Fannie and Freddie carried interest rates of 4.5 percent or higher.]
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