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<blockquote data-quote="Jones" data-source="post: 908618" data-attributes="member: 4805"><p>It's a misconception that Fannie and Freddie back every mortgage. They dominate the secondary mortgage market but they are not the only players. They never held a majority of the subprime mortgages, in fact as the subprime market exploded their share of it decreased from 48% down to 24%. At it's the peak the vast majority of subprimes were being securitized by private lending institutions.</p><p>You are right about no one caring, because everyone involved was making a killing until the music stopped.</p></blockquote><p></p>
[QUOTE="Jones, post: 908618, member: 4805"] It's a misconception that Fannie and Freddie back every mortgage. They dominate the secondary mortgage market but they are not the only players. They never held a majority of the subprime mortgages, in fact as the subprime market exploded their share of it decreased from 48% down to 24%. At it's the peak the vast majority of subprimes were being securitized by private lending institutions. You are right about no one caring, because everyone involved was making a killing until the music stopped. [/QUOTE]
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