Under pressure from Democratic (socialist/fascist) de facto President Clinton, Esq., the Federal National Home Loan Corporation (a.k.a. “Fannie Mae”) eases the credit requirements to encourage banks to extend home mortgages to individuals whose credit is not good enough to qualify for conventional loans.
NOTE: As an attorney (Officer of the Court) Clinton was ineligible to serve in two branches of government at the same time, according to Article I, Section 6 [Clause 2].
[restored 5/9/2023]
Subsequent Events:
References:
Subprime crisis impact timeline – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Subprime_crisis_impact_timeline
Fannie Mae Eases Credit To Aid Mortgage Lending – The New York Times
www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html