Fannie Mae sees single family conventional home loan deliquencies explode
Fannie Mae reported that the serious delinquency rate for conventional loans in its single-family guarantee business increased to 4.17 percent in July... and up from 1.45% in July 2008.That is not subprime! Those are conventional plain vanilla loans.
Fannie Mae? That's the public/private entity that is basically insolvent that we bailed out last year.
By the way, over 90% of all mortgages made in the 3rd Quarter were touched in someway by the Federal Govt. Wonder how the housing market would have been without that involvement. At Market Place.
Posts
