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The Real Scandal-How Feds Invited the Mortgage Mess
New York Post ^
| February 5, 2008
| STAN LIEBOWITZ
Posted on 02/05/2008 5:42:47 AM PST by OESY
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To: pnh102
The answer to that question is PMI ( private mortgage insurance) It covers the lender’s loss for any part of loan money over 80% value of the house. So their backup plan was to accept a 20% decline in values and still make their money. The media tanked values more than that.
41
posted on
09/15/2008 8:12:18 AM PDT
by
ritewingwarrior
(Win the war and not the battle.)
To: OESY; ExTexasRedhead; gonzo
Thanks, and bump for a later read ............... FRegards
42
posted on
09/17/2008 9:02:53 AM PDT
by
gonzo
("Shall Not Be Infringed" - use it now! While you still can ... FRegards)
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