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FMNH wrote: Fannie and Freddie did not cause the crisis. The vast majority of mortgages were not government-backed.

FHFA Acting Director Edward J. DeMarco sought the fee increase to boost fiscal stability at the government-sponsored enterprises and shrink their footprint in the housing market, where they own or guarantee about 60 percent of U.S. home loans.

We are specifically talking about failed mortgages, of course, and the vast majority of the failed ones were not government-backed. That should have been clear, but I'll specify that since you missed that the first time.

"Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent, according to data from Inside Mortgage Finance, a specialty publication. Even so, by 2007 only 17 percent of their total portfolio was either either subprime or Alt-A loans. Due to regulations, their percentage of these loans are actually better than many banks."

"During those same explosive three years, private investment banks -- not Fannie and Freddie -- dominated the mortgage loans that were packaged and sold into the secondary mortgage market. In 2005 and 2006, the private sector securitized almost two thirds of all U.S. mortgages, supplanting Fannie and Freddie, according to a number of specialty publications that track this data."

As has been proven, government did not cause the collapse. Private industry did. Your claims have been proven to be false, as usual.
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