July 03, 2009
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RELATED TICKERS: FNMA
Failure of Bailouts, Stimulus Packages, and Government Economic Planning
can you cite a source regarding the government promoting lower standards on home loans?
also, as scary as it may be, i'm not so sure the government plans on ever letting the bubble burst. The U.S. is no longer a free market.
"In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits."
September 30, 1999
Fannie Mae Eases Credit To Aid Mortgage Lending
Obama's Housing Rescue Expands: 6 Things to Know
These are a couple, I'll see if I can find more today.
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