Monday, November 8, 2010
US Govt Mortgage loan body in trouble.
Fannie Mae and Freddie Mac are quasi-US-Govt. bodies i.e. The US govt. does not need to stand behind them but does due to a lot of investors buy its bonds due to US govt. implicit backing. But many other like Ginnie Mae have fully backed by US Govt. Well this body seems to be in trouble based on two reports.