So what caused the 2008 financial crisis? We know that the direct cause was the meltdown in the US housing market. I think we are still trying to put together the pieces and point the finger of blame. It was a big bubble and the explosive reaction when the bubble burst. It took many different [...]
Tag Archives | Fannie Mae
Looking at the Residential Mortgage Crash
Matt Phillips at WSJ.com’s Market Beat put together some great charts showing the problems with the residential mortgage market: Fannie and Freddie: The Saga in Charts. The first one that caught my eye shows how Wall-Street took such a quick, big chunk of the market share of residential mortgage-backed securities during the housing boom. Fannie [...]
Fannie Mae Code of Ethics
Fannie Mae has their Code of Conduct posted on their website. So? The Wall Street Journal reports that the Federal Housing Finance Agency has imposed a revised code of conduct aimed at preventing mortgage brokers and lenders from pressuring appraisers to inflate their estimates of home values. Now there is a revised Home Valuation Code [...]
