Conference board report

[Rat in the Hat]

Yes, the economy is just racing along.

 

[EdwardBaiamonte]

you cant answer my questions can you?

. J. Bridges says:
Beginning in 1992, Congress pushed Fannie Mae and Freddie Mac to increase their purchases of mortgages going to low and moderate income borrowers. For 1996, the Department of Housing and Urban Development (HUD) gave Fannie and Freddie an explicit target -- 42% of their mortgage financing had to go to borrowers with income below the median in their area. The target increased to 50% in 2000 and 52% in 2005.

For 1996, HUD required that 12% of all mortgage purchases by Fannie and Freddie be "special affordable" loans, typically to borrowers with income less than 60% of their area's median income. That number was increased to 20% in 2000 and 22% in 2005. The 2008 goal was to be 28%. Between 2000 and 2005, Fannie and Freddie met those goals every year, funding hundreds of billions of dollars worth of loans, many of them subprime and adjustable-rate loans, and made to borrowers who bought houses with less than 10% down.

And of course, even more importantly, because Fanny and Freddie had lower rates all the good mortgages went to them too, thus forcing the remainder of the industry to sell more and more to the sub-prime market. Sorry!

 

[Truthmatters]

that is not your name is it?

you did have to go find some right wing talking points to spew huh?

 

[Truthmatters]

you cant answer my questions can you?

. J. Bridges says:
Beginning in 1992, Congress pushed Fannie Mae and Freddie Mac to increase their purchases of mortgages going to low and moderate income borrowers. For 1996, the Department of Housing and Urban Development (HUD) gave Fannie and Freddie an explicit target -- 42% of their mortgage financing had to go to borrowers with income below the median in their area. The target increased to 50% in 2000 and 52% in 2005.

For 1996, HUD required that 12% of all mortgage purchases by Fannie and Freddie be "special affordable" loans, typically to borrowers with income less than 60% of their area's median income. That number was increased to 20% in 2000 and 22% in 2005. The 2008 goal was to be 28%. Between 2000 and 2005, Fannie and Freddie met those goals every year, funding hundreds of billions of dollars worth of loans, many of them subprime and adjustable-rate loans, and made to borrowers who bought houses with less than 10% down.

And of course, even more importantly, because Fanny and Freddie had lower rates all the good mortgages went to them too, thus forcing the remainder of the industry to sell more and more to the sub-prime market. Sorry!

You have broken the rules of the site and need to post a link to this quote

 

[Truthmatters]

what percentage of the subprime were written by freddy and fanny?


Did the banks that were "forced" as you claim to write these loans make money off them?

You did not answer any of these questions

 

[EdwardBaiamonte]

that is not your name is it?

you did have to go find some right wing talking points to spew huh?

Fanny Freddie CRA Federal Reserve, etc are not talking points I'm afraid. They were liberal means to subvert the free market and get everyone into a home.

Now you understand how liberalism created the Great Recession

 

[Truthmatters]

More on Fannie/Freddie Subprime Link

that crap is from the heritage foundation.

You cant answer the simplest questions about this mess in your own words can you?

 

[Rat in the Hat]

that is not your name is it?

you did have to go find some right wing talking points to spew huh?

Truthmatters is not your name, is it?

Now go get your next lefty talking points from the DNC, you hack.

 

[Rat in the Hat]

More on Fannie/Freddie Subprime Link

that crap is from the heritage foundation.

You cant answer the simplest questions about this mess in your own words can you?

 

[Truthmatters]

that is not your name is it?

you did have to go find some right wing talking points to spew huh?

Fanny Freddie CRA Federal Reserve, etc are not talking points I'm afraid. They were liberal means to subvert the free market and get everyone into a home.

Now you understand how liberalism created the Great Recession

how many of the sub prime loans did freddy and fanny write?


Did the lenders who wrote the sub primes make money off them?


Vey easy to answer questions if you really know one damned thing about this whoile situation

 

[EdwardBaiamonte]

Did the banks that were "forced" as you claim to write these loans make money off them?

most of the banks went bankrupt, those that remain are near zombie banks. BOA( the biggest of all) is now selling for $5/share because few are certain of its survival. Its been in the papers every day for 3 years.

 

[Rat in the Hat]

that is not your name is it?

you did have to go find some right wing talking points to spew huh?

Fanny Freddie CRA Federal Reserve, etc are not talking points I'm afraid. They were liberal means to subvert the free market and get everyone into a home.

Now you understand how liberalism created the Great Recession

how many of the sub prime loans did freddy and fanny write?


Did the lenders who wrote the sub primes make money off them?


Vey easy to answer questions if you really know one damned thing about this whoile situation

Your questions might be "Vey" easy to answer if I knew what "whoile" meant.

 

[Truthmatters]

Did the banks that were "forced" as you claim to write these loans make money off them?

most of the banks went bankrupt, those that remain are near zombie banks. BOA( the biggest of all) is now selling for $5/share because few are certain of its survival. Its been in the papers every day for 3 years.

this is not an answer to the question.


why are you avoiding answering tghe questions?

How many sub prime loans did freddy and fanny write?

Did they make money from the sub primes?

 

[Rat in the Hat]

Did the banks that were "forced" as you claim to write these loans make money off them?

most of the banks went bankrupt, those that remain are near zombie banks. BOA( the biggest of all) is now selling for $5/share because few are certain of its survival. Its been in the papers every day for 3 years.

this is not an answer to the question.


why are you avoiding answering tghe questions?

How many sub prime loans did freddy and fanny write?

Did they make money from the sub primes?

What are "tghe questions"?

 

[EdwardBaiamonte]

How many sub prime loans did freddy and fanny write?

Fanny Freddie CRA FHA Federal Reserve etc all conspired to subvert the free market. They all worked together. Do you understand now?
Most importantly, Fanny set the standards for the entire industry. The question is not how many subprimes did they write,( although they did write half) but how many did they force the entire industry to write.

"For 1996, the Department of Housing and Urban Development (HUD) gave Fannie and Freddie an explicit target -- 42% of their mortgage financing had to go to borrowers with income below the median in their area. The target increased to 50% in 2000 and 52% in 2005."

Did they make money from the sub primes?

As I said most of the banks went bankrupt. Its been in all the papers for years now! Perhaps you mean, did they hope to make money rather than go bankrupt? Despite being a liberal you can probably answer that one yourself?

 

[Truthmatters]

wrong.


your facts are just not there.

 

[Truthmatters]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

you have no idea of which you speak.

 

[Truthmatters]

More on Fannie/Freddie Subprime Link

You are breaking the rules of the site by NOT linking to your quotes.,

The heritage foundation is a right wing bullshit site

 

[Rat in the Hat]

More on Fannie/Freddie Subprime Link

You are breaking the rules of the site by NOT linking to your quotes.,

The heritage foundation is a right wing bullshit site

 

[Truthmatters]

The Heritage Foundation - Wikipedia, the free encyclopedia