More...
 

Report: Fannie, Freddie Execs Were Warned Of Loan Problems Years Ago

digg Share this on Facebook Huffpost - Report: Fannie, Freddie Execs Were Warned Of Loan Problems Years Ago stumble reddit del.ico.us RSS

Washington Post   |  Zachary A. Goldfarb   |   12/ 9/08

I Like ItI Don’t Like It
Read More: Bailout Outrage, Fannie Mae, Fannie Mae Bailout, Fannie Mae Loans, Fannie Mae Warnings, Freddie Mac, Freddie Mac Bailout, Freddie Mac Loans, Freddie Mac Mortgage Crisis, Business News
Freddie Mac

Washington Post:

Internal Freddie Mac documents show that senior executives at the company were warned years ago that they were offering mortgages that could pose dangers to the firm, hurt borrowers and generate more risky loans throughout the industry.

At Fannie Mae, top executives were told it was necessary to develop "underground" efforts to buy subprime mortgages because of competitive pressures, although there were growing risks and borrowers often didn't understand the terms of the loans, documents show.

Read the whole story: Washington Post

Internal Freddie Mac documents show that senior executives at the company were warned years ago that they were offering mortgages that could pose dangers to the firm, hurt borrowers and generate more ...
Internal Freddie Mac documents show that senior executives at the company were warned years ago that they were offering mortgages that could pose dangers to the firm, hurt borrowers and generate more ...
digg Share this on Facebook Huffpost - Report: Fannie, Freddie Execs Were Warned Of Loan Problems Years Ago stumble reddit del.ico.us RSS
 
Comments
0
Pending Comments
0
iPhone App Promo

Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to

View Comments:
Comments are closed for this entry

You must be logged in to reply to this comment. Log in  or  Connect