Did Fannie Mae know that it was buying junk mortgages? You might remember in my last post I spoke of how the government abused enforcement of the Community Reinvestment Act (CRA) to force banks to give high risk and "impossible" loans on properties that could never be worth the debt that was being applied to them.
LF Crisis
LF Crisis
LF Crisis
Did Fannie Mae know that it was buying junk mortgages? You might remember in my last post I spoke of how the government abused enforcement of the Community Reinvestment Act (CRA) to force banks to give high risk and "impossible" loans on properties that could never be worth the debt that was being applied to them.