Which of the following best characterizes the federal government's response to the subprime scandal?
A) A new federal agency was created to regulate mortgage companies, similar to the regulation of banks and savings and loan associations.
B) The Office of Federal Housing Enterprise Oversight, which monitors Fannie Mae and Freddie Mac, created standards for oversight of mortgage companies.
C) The regulatory agencies did nothing until 2007 when Congress began to investigate the Mortgage Bankers Association.
D) The Home Owners' Loan Corporation, first developed in the 1930's, was re-established to assist low- income Americans with home ownership and prevention of foreclosure.
Correct Answer:
Verified
Q3: The Home Owners' Loan Corporation, first developed
Q4: Kuttner argues that there are better ways
Q5: In the early 2000's, as many as
Q6: "Subprime" mortgage refers to_
A) below what is
Q7: Which state had the highest foreclosure rate
Q8: Unlike banks and savings and loan association,
Q10: The value of subprime loans steadily decreased
Q11: Explain how mortgage companies are able to
Q12: A mortgage is considered "subprime" when the
Q13: In an effort to prevent foreclosures in
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