Fannie Mae mortgages... almost right, but not exactly.
Fannie mae mortgages were giving to poor and mostly for houses in a very bad areas, or to these who could develop the bad areas. Most of these houses very boarding houses that attracted criminal activities. Fannie Mae did not rule the economy. all americans banks were giving loans to those, who actually could not effort buying the house. They supported growing in price real estate. Kind of the pyramid (just upside down), that finally collapsed.