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To: Joe NYC who wrote (391077)11/3/2010 5:58:22 PM
From: Brumar89  Respond to of 793570
 
Me too.



To: Joe NYC who wrote (391077)11/3/2010 7:00:27 PM
From: James Lough1 Recommendation  Read Replies (1) | Respond to of 793570
 
Re: Elimination of Fannie and Freddie.

FNMA and FMAC worked fine for many years - when it was properly managed and properly underwritten. The underwriting rules were pretty hard fast - based on good credit, cash down payment and a serviceable ratio of monthly payment to monthly income. When the underwriting rules broke down is when the trouble began.

Jim