Robert Menendez actually said...

Let me ask you, Professor Levitin, in the days before GSEs, loans were generally renewed every 3 to 5--or due every 3 to 5 years and had to be refinanced all the time because lenders were not willing to make 30-year commitments.

Context

Menendez highlights the historical challenges of loan renewals before government-sponsored enterprises (GSEs).

09/12/2011

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