All-Day Loans

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Fannie Mae has withdrawn from the market for all-day loans, which are considered risky because they require less documentation than traditional prime loans.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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3d rendering of a row of luxury townhouses along a street

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