When I read this report, what immediately struck me was that there has been no bailout of any kind. They still have a boatload of money in reserve.
OK, so where were the watchdog groups, prior to a nearly $180 billion bailout of Fannie Mae and Freddie Mac? When Barney Frank stated, there are no issues with Fannie/Freddie, what was he talking about?
Also, why aren’t VA & USDA considered high risk? No down payments are required for either loan products? If any of this makes any sense, well it sure does not to me.
By: Tory Barringer