From timesdispatch.com
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Subprime Mortgages
How will subprime mortgages, and more importantly defaults of subprime mortgages impact the real estate market as well as the US economy as a whole?
An alert reader recently sent us a copy of a news story that reported: “In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.“ “Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton administration to expand...
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