Real estate blog entries tagged with alt a by Richard Smith FHA VA Rural Development in TN GA

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Home : Blogs : Richard Smith FHA VA Rural Development in TN GA : Richard's Real Estate Thoughts : Tag "alt a"

alt a: FannieMae FreddieMac AltA Lending - 08/10/08 08:21 PM

FannieMae and FreddieMac are chartered to ensure mortgage banks have enough money to lend home buyers at low interest rates. They are supposed to ensure affordable housing, by maintaining market place liquidity.
What they have been doing though is purchasing Alt A and subprime loans. This explains the recent mounting losses that both lenders have been experiencing. The losses were inexplicable to me because FannieMae and FreddieMac guarantee conventional loans, or so I thought. The lowest risk loans - fully documented, lower LTV's, full amortization loans, best credit, MI covered loans.
Why were these two companies suffering losses?
Well, they had begun to venture … (17 comments)

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Richard Smith FHA VA Rural Development in TN GA

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