Do US Government, Congress Endorse Sub-Prime Lending?
By Stan Brody
A flier from a mortgage broker to real estate agents appears to indicate the US Federal Government is now formally in the business of endorsing Sub-Prime lending.
These loans are created by the United States Government Agencies, FHA and FANNIE MAE, NOT Wall Street, NOT the banks, NOT the Mortgage Bankers, and most certainly NOT by the mortgage brokers.
So, this flier begs the question, is the United States Government and its congress endorsing sub-prime lending?
Or, when the government does it, it is OK. Or, most likely, when this one blows up in their face, does congress damn the mortgage brokers again for selling these loans?
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