Government Loosens Lending
Collingwood’s Chairman, Tim Rood, appeared on Fox Business Network’s Cavuto on Friday, October 24, 2014 to discuss the impact of Fannie Mae and Freddie Mac buying loans with only three percent down payments. Tim says that, “Lenders learned the hard way that when they thought they were selling the credit risk to Fannie Mae, Freddie mac and FHA. It turned out they were just renting them because when these borrowers defaulted, the loans came back to the lenders. So they are saying thanks but no thanks right now.”
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