Well no not exclusively, obviously. It was more of a group think process much like any other indigenous tribe planning to assault a village. But make no mistake, Amortization was very definitely one of the more effective bombs dropped out of the big Trojan Horse we call Fannie/Freddie.
Because of course you should faithfully make payments on your house for 5 years and discover you have barely nudged the needle on your mortgage. It makes sense! Now you are "underwater" for some mysterious reason and get to give them your house too!
*Thump *Thump is this thing even on? Boats and airplanes pay down so why are houses exempt? Oh right, houses are "fixed assets" much like all the pension funds they robbed. Remember, they work sooo hard cranking out fake files and lying about everything, that makes it fair! They are such HARD WORKERS!
Apparently GSE reform is on the "to do" list, loosely scheduled for review sometime next year. Let's hope it is not another 10 megaton bomb.
Make it a Great Day.