07-19-2016, 12:11 PM
(07-19-2016, 03:50 AM)Brownshoe Wrote: They were forced to buy 50% of mortgages from people at or below the median income in their communities. Meaning they had to buy more bad loans. That's why they were dropping in market share during the peak.
How could making them buy MORE subprime loans make their market share go DOWN?
The Financial Crisis Inquiry Commission issued three concluding documents in January 2011: 1) The FCIC "conclusions" or report from the six Democratic Commissioners; 2) a "dissenting statement" from the three Republican Commissioners; and 3) a second "dissenting statement" from Commissioner Peter Wallison. Both the Democratic majority conclusions and Republican minority dissenting statement, representing the views of nine of the ten commissioners, concluded that government housing policies had little to do with the crisis. The majority report stated that Fannie Mae and Freddie Mac "were not a primary cause of the crisis" and that the Community Reinvestment Act "was not a significant factor in subprime lending or the crisis.
