Freddie Mac has seen enough

The Washington Post reports – Freddie Mac to Clamp Down on Risky Loans

Freddie Mac, the second biggest buyer of U.S. mortgages, plans to toughen its standards and stop buying certain types of risky loans that have been linked to a high number of defaults.

This is latest indication of rising concern about problems in the subprime mortgage market, which caters to borrowers who are unable to qualify to buy a house with a conventional loan.

This is directly from Freddie Mac – FREDDIE MAC ANNOUNCES TOUGHER SUBPRIME LENDING STANDARDS TO HELP REDUCE THE RISK OF FUTURE BORROWER DEFAULT

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