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Loan Modification

: Mortgage Lender Implode-o-Meter

Say Goodbye to Fannie and Freddie

By Implode-Explode Heavy Industries

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"Fannie and Freddie had a license to print money. They could borrow at an interest rate only a bit over the Treasury rate and then accumulate large portfolios of mortgages and mortgage-backed securities earning the market rate. What a deal ? borrow at the low rate, invest at a higher one, hold little capital and let the federal government bear the risk! Investors enjoyed high returns, and management enjoyed high salaries. Incidentally, politicians also got a steady flow of campaign contributions from the companies? executives."

Full post as published by Mortgage Lender Implode-o-Meter on August 12, 2010 (boomark / email).

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