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Dept store Quartermaster
Join Date: Jul 2001
Location: I'm right here Tati
Posts: 19,869
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A CNCBC article I just read said Fannie and Freddie started gobbling up sub-prime between 2003 and 2006.
"By Reuters | 16 Aug 2007 | 10:55 AM ET
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Fannie Mae [FNM 0.5 -0.11 (-18.03%) ], the nation's largest source of home loan funding, increased its holdings of risky subprime loans in 2006 while its profits fell that year, the company said Thursday in a long-delayed report.
As the U.S. volume of higher-risk subprime loans increased from 2003 through mid-2006, Fannie Mae said its "purchase and securitization of loans that pose a higher credit risk ... also increased." It added that its holdings increased to a lesser degree than many other institutions. "
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