The GSEs (Government Sponsored Enterprises) of Fannie Mae and Freddie Mac have seeming forgotten the financial crisis.

Fannie Mae, for example, now has the highest average combined loan-to-value (CLTV) ratio in history. Even higher than during the financial crisis.

How about borrower debt-to-income (DTI) ratios? Fannie Mae’s average DTI is the highest its been since Q4 2008.

At least the average FICO scores remains above kickoff of the last financial crisis.

David Lereah, Chief Economist, National Association of Realtors (2006)

Source: Confounded Interest