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Fannie Mae and Freddie Mac financing riskier mortgages to indebted homeowners

DATE POSTED:May 13, 2019

Amid a nationwide housing slowdown, Fannie Mae and Freddie Mac have increasingly backed more home mortgages to Americans steeped in debt. About 30 percent of loans that Fannie Mae and Freddie Mac packaged into bonds in 2018 went to home buyers whose debt payments totaled 43 percent of their incomes, according to Inside Mortgage Finance, the Wall Street Journal reported. This was double the amount of mortgages the two backed in 2015. Critics say that […]