Quote:
Originally Posted by manaboutown
$2.11B was collected in insurance premiums, I believe from regular mortgages as well as RMs. The government paid out $15.75B, most of which was paid out due to RM foreclosures. We taxpayers are picking up the tab. We supplement the industry as the lenders literally cannot lose and of course the various commissions and fees they garner for every imaginable little thing they do along the way are humungous.
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This is why private industry does a better job than the govt.