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Aussie105

(7,294 posts)

2. Fannie Mae and Freddie Mac

Reply to Celerity (Original post)

Fri Oct 10, 2025, 06:20 PM

Friday

On selling bad mortgages years ago came to mind instantly when I read that.

Anyone remember the NINJA mortgage loans of years ago, their packaging and on selling to banks and the financial disruptions that caused?

NINJA = no income, no job, no assets.
Want a mortgage at sweetheart starter rates that run out and you have no chance of paying it when the time comes?
Sure, there you go!

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Celerity enigmania

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Fannie Mae and Freddie Mac Aussie105 Friday #2