It wasn't just Bear Stearns that made questionable loans--everyone was in on the game. Fitch just downgraded $5.3 BILLION of Residential Backed Mortgage Securities on Friday night. If you look at the list you'll see ALL the players (Citi, WaMu, JP Morgan, Wells Fargo, Fremont, Option One, etc. etc.)
Take a look at what is inside one of these beauties: WaMu's Apr 07
Even "high quality" mortgages accepted by Fannie are going down the toilet: http://www.housingwire.com/2007/12/...o-shrink-delinquencies-continue-upward-trend/
They ALL did subprime and Alt -A loans INCLUDING Fannie and so did Freddie Mac. I'll see if I can find Fannie's delinquency specific loan types in delinquency. The article doesn't list, but they did stated income, stated assets and investulator hig LTV loans (ALT-A) as well as subprime.