fannie and freddie force lenders to buy back toxic mortgage: Fannie and Freddie are Forcing Lenders - 05/31/10 07:28 PM

to buy back the bad loans they made. In the last 3 months, mortgage lenders were forced to buy back over $3 Billion in bad debt. Fannie or Freddie own or guarantee about $5 Trillion in mortgage debt. National debt stands at $13 Trillion (U.S. National Debt Clock). So far the treasury Dept has provided about $150 Billion in aid of the these GSE's. It appears this will cause additional stress on lender balance sheets, further bank closings, or lenders seeking to unload these to investors. Watch for further developments.  
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Jim Holder,CDPE,SFR,ABR

Arlington Heights, IL

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