It would seem that investors who paid out reverse mortgages took it on the chin with falling housing prices.
Guess who one of the biggest investor is? You!
Fannie Mae Reverse Mortgage Market Share Falls 85% from 2009 | Reverse Mortgage Daily
Most citizens and the general taxpayer got scr3wed on all sides of the real estate debacle.
I suppose Fannie (and maybe Freddie)
are the dumping ground for originators to extract their riskless profit!