Fannie Mae/Freddie Mac Hearings Video and Written Materials.

C-SPAN has posted two different Flash videos of today's lengthy House Government Oversight Committee hearing on Fannie Mae and Freddie Mac.

• First panel video is HERE and includes prior Chairs of Fannie and Freddie. [Looks like site may be having some temporary problems, so you may want to come back and try this one later].
• Second panel video is HERE and features "Analysts and Academics". [This site is working]

Click on Flash icon in top right of link to launch the video, recall that you can do a keyword search to see segments for that keyword.

I have also consolidated all the written material posted on the hearing site (220+ pages, 9+MB download) into a single PDF HERE. I have looked at only a part of it; things that caught my eye:

1. Page 38 is a table that shows how different ARM and alternative loan programs "qualified" borrower for higher loan amounts, AND the payment shock they would see once those adjustments started to kick in. Provides concrete illustration of why many of these loans seem doomed to fail.
   
2. Page 82 discusses the disproportionate use of No Income No Asset [NINA] loans my Hispanic and African American borrowers in Freddie Mac loan purchases. Predatory lending at its clearest.