[zeaal]

Are any of the loans government backed ... Fanniemae, Freddiemac, etc.?

[Happy2BMe]

Yes. From what I understand Fannie Mae loses big time on these loans.

[afnamvet]

Are any of the loans government backed ... Fanniemae, Freddiemac, etc.?

U.S. government loan guarantees should NOT be offered on these types of loans if default ensues. The banks should be on their own. Talk about a poor risk.