Funny how under Bush Worthy low income became anybody with a heartbeat... Fannie and Freddie lost two-thirds of their market share, and buddies of bush Regulators private financial institutions took over the market and gave us a world depression, great job scumbag GOP and silly dupes... They're probably at it again right now.
Who decides what is F&F market share?
You do know why they lost that market share, right?
Because of the Boom in BS Lending by chrony private lenders who are Pals of the GOP Regulators if you can call them that... D u h
I'm not surprised you know so little. That's why you vote D.
F&F were not regulated by GOP. In fact, every attempt to regulate them was rejected and blocked by the Dems.
The problem was never Fannie and Freddie, brainwashed functional s*******... It was the private lending organizations that sold mortgages to anyone even breathing. And they were rated A+... Your GOP Regulators are garbage. How many times do they have to wreck the country for you idiots to understand? See 1929, SNL Scandal in 1988 and many other times.
You heard that on CNN or?
Let's make it as simple is possible, so you can understand it.
Government wants to force banks to give mortgages, banks still reject that.
Government threaten to sue banks for redlining and discrimination, banks still reject it.
Government offers banks to buy their mortgages to minimize their risks, banks accept it.
F&F buys mortgages from the banks. Banks use money received from F&F to issue more mortgages.
In order for F&F to buy more mortgages from the banks they repackage previously bought mortgages (good and bad) and sell them as AAA mortgage securities.
Money from sale they use to buy new mortgages from the banks.
Credit rating agencies were rating those securities as AAA because government claim they were the safest securities on the market.
When asked for audit of F&F, government rejected it.
Of course they were not safest securities and were doomed to flop.
When bubble popped, government blame private banks.
Now, replace word government with Democrats, and you'll get true picture.
That's short version, I doubt you could comprehend longer one.