All-Day Loans
By: HousingWire staff
August 22, 2008 12:00 PM CST
Damn if this isn’t funny. Think the WaPo doesn’t understand mortgages? Try this on for size:
Fannie Mae has withdrawn from the market for all-day loans, which are considered risky because they require less documentation than traditional prime loans. [emphasis added]
I could laugh at that one Alt-A and all night. (On a more serious note, it’s proof of why we started HW.)
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