fannie mae & freddie mac

Tweet

What gives? They said the reason for the current level of foreclosures was because some banks gave out loans to people who were not able to pay. This I understand, and yes they did give unqualified loans. But the same cannot be said of FANNIE MAE and FREDDIE MAC, These are government loans and their requirements are such that the unqualified cannot touch them. If those loan are on the backs of the top 20 percent of the financially quilified, why are they going under? What are they not telling us?