Speaking from the field as a boots-on-the-ground loan originator, I have seen this plan reduce affordability for consumers and drive business toward FannieMae and FreddieMac.

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Remember, all of those fantastical losses that lenders were reporting from loan defaults in the wake of the mortgage meltdown, were caused by bad loans they were forced to repurchase or buy back from investors like FannieMae and FreddieMac.

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