2012-01-11openmarket.org

" The two mortgage giants bought up risky sub-prime mortgages partly in order to satisfy government affordable-housing mandates, as even the liberal Village Voice found in its investigative reporting. Even Fannie Mae's 2006 10-K form with the SEC noted the role of HUD's affordable-housing mandates as a factor in its purchase of mortgages it would once have avoided as too risky"



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