Mr Lockhart says that Fannie and Freddie backed 40% of all mortgages in 2006 – by 3rd quarter 2007 they were backing 60% of all mortgages and in October they backed 70% of all mortgages – I was surprised that the GSEs have such a large presence in the world of mortgage financing
Is this dramatic growth in market share occurring because 189 mortgage lenders have stopped lending (http://ml-implode.com/) or is there something else going on as well?
