[quote=carlsbadworker]Yes, what you didn’t know is that fannie/Freddie can ask banks to buy back the loan if the borrower didn’t meet the qualification standard. It actually happens pretty often, so sometimes bank enforces tougher standard than required to limit their risks. Also, not everyone in government works for Obama, sometimes they have different political backing and goals.[/quote]
Not sure I understand that. How can a loan be given in the first place if the borrower didn’t qualify?