80% of the subprimes were written by unregulated buisinesses.
actually Fanny Freddie controlled entire market. THey set standards that everyone followed. It is true they they took many of the safer mortgages in the 1990s , but this only forced the others to go lower and lower into sub prime. THen Fanny Freddie had to do the same and did to keep its volume up.
Fanny Freddie were designed by liberals to get mortgages for those the Republican free market would deny!! This is the only rational conclusion. Fanny Freddie existed only as long as it met the liberals affordable housing goals.