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To: raybbr
His admin pushed for increasing the purchasing of GSE's in 2004.

Do you mean purchasing by GSEs?

71 posted on 10/11/2008 10:29:34 AM PDT by syriacus (At the intersection of Congress+ Fannie Mae .... you'll find the DEMron Scandal, a real DEMbacle.)
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To: syriacus
Do you mean purchasing by GSEs?

Yes, that's what I meant.

In 2000, Cuomo required a quantum leap in the number of affordable, low-to-moderate-income loans that the two mortgage banks—known collectively as Government Sponsored Enterprises—would have to buy. The GSEs don't actually sell mortgages to borrowers. They buy them from banks and mortgage companies, allowing lenders to replenish their capital and make more loans. They also purchase mortgage-backed securities, which are pools of mortgages regularly acquired by the GSEs from investment firms.

72 posted on 10/11/2008 11:48:55 AM PDT by raybbr (You think it's bad now - wait till the anchor babies start to vote!)
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