Sociable

Wednesday, September 15, 2010

Gov't: Banks should share Fannie, Freddie costs

This is a follow up from an earlier post.

Fannie and Freddie have a legal right to return bad loans, especially if they later discover fraudulent statements on applications. Any money they recover offsets their losses.
I like this quote.
"The industry believes that the pendulum has swung far beyond what is reasonable," he said. As a result, he said, lenders are being extremely cautious about making new loans.
 Read it all

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