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: Loan Modification & Home Loan NewsBad Decisions Led to the Collapse of Fannie Mae and Fredie Mac Says HUD?s Donovan
By Moe Bedard
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WASHINGTON?Poor decision-making to try to regain market share and not government-mandated affordable housing goals led Fannie Mae and Freddie Mac to loosen their lending standards that prompted their collapse, said Shaun Donovan, the Obama administration’s top housing official.
While the Obama administration won’t propose legislation revamp Fannie, Freddie and the broader housing-finance market until next year, the [...]Full post as published by Loan Modification & Home Loan News on April 14, 2010 (boomark / email).
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