Fannie, Freddie Loans Deemed 'Safe' Under Mortgage Rules

Dow Jones Newswires ^ | March 28, 2011 | Alan Zibel

[WashingtonSource]

WASHINGTON -(Dow Jones)- Loans sold to government-controlled mortgage giants Fannie Mae (FNMA) and Freddie Mac (FMCC) will be deemed "safe" under new rules designed to encourage responsible lending practices, according to a summary of a proposal developed by federal regulators.

[WashingtonSource]

Fannie and Freddie bought up billions in subprime and liar loans and now there's no restriction on them. Just because they say it's a good loan, it's OK. This sucks.

[Da Coyote]

From the Obamaloon Administration.

“Corruption R Us”

Don’t you be gettin’ huffy ‘bout us.

We helpz our peoples.

[Scott from the Left Coast]

There is that word "deem" again.

They deem things passed and they deem things safe.

How very regal of them.

[org.whodat]

I do here by deem them to eat cake. What a crock, close fanny and freddy and sell the assets and fire the dead beats that work there.

[Rocky]

Well, Barney Frank agrees, so it must be true.

[tacticalogic]

I think “Safe” means the title paperwork is sufficiently screwed up for the ACORN squatters to move in.

[Milhous]

“Debt is money”

[Pelham]

“Fannie and Freddie bought up billions in subprime and liar loans”

They didn’t touch liar loans. Fannie and Freddie dealt in conforming paper. Liar loans, no doc loans, stated income loans were marketed by rivals of Fannie and Freddie.