< FNM and FRE have "a few" loans resting on their books to maintain appearances>
In the "old days", I was employed by a commercial bank, 83-87, and when we wrote mortgage loans they had to by the book so they could be packaged and sold on the secondary market.....if we "liked" any funky deals, (ie, LTV, DTI, collateral, etc) the borrowers had to be squeaky clean, and I mean squeaky, with large deposits on hand at the bank, then and only then could we write the loan.....
I mean, after all, the bank can't assume any risks, now can they......<g> |
