Why is the Government in the mortgage business?
That’s the proper question.
Great question. Do you recall the discussions we had on the CRA after this nation was 8 trillion in debt and was bailing out the banks? This was in 2007-8. If you look up the Community Reinvestment Act you will get some good data. Also one or more elected types made a lot of money in either Fannie or Freddie. Let me check.
Just checked and the CRA is alive and still going.
http://occ.gov/news-issuances/bulletins/2015/bulletin-2015-10.html
Barney Frank was tied into a number of scams.
Lehman Brothers went under due to Fannie and Freddie loans and we bailed them out. Cruz and his wife are part of Goldman Sachs same type deals plus their trade crap (TPP).