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Loan Modification
: Mortgage Lender Implode-o-MeterIs Unlimited Bailout Of Fannie And Freddie A ?Necessary Evil??
By Implode-Explode Heavy Industries
For all intents and purposes, there is no private mortgage market any more. In the first quarter of this year, the government backstopped 96.5% of all home loans in the United States. Of course, Fannie and Freddie are experiencing huge losses doing this, [and by extension taxpayers.] but many are saying this is a necessary evil:
Let's ask, though, what would happen if the government were to get out of the mortgage business.
Full post as published by Mortgage Lender Implode-o-Meter on May 21, 2010 (boomark / email).
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