UNFREAKINGBELIEVABLE | Fannie Mae seeks $5.1 billion more from taxpayers

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UNFREAKINGBELIEVABLE | Fannie Mae seeks $5.1 billion more from taxpayers

UNFREAKINGBELIEVABLE | Fannie Mae seeks $5.1 billion more from taxpayers

The gift that keeps on giving…perhaps they should get the fees from their very own MERS, which took away from the counties and taxpayers?

(Reuters) –

Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.

The largest U.S. residential mortgage funds provider on Friday also reported a second-quarter net loss attributable to common shareholders of $5.2 billion, or 90 cents per share.

Including the latest funding request, Fannie Mae has needed $104 billion in government capital injections since the U.S. Treasury seized control of it in 2008 during the financial crisis. Fannie Mae has paid back $14.7 billion in dividends.

[REUTERS]

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4 Responses to “UNFREAKINGBELIEVABLE | Fannie Mae seeks $5.1 billion more from taxpayers”

  1. homeownerfightingback says:

    Hey Fannie,
    How about modifications on properties that owners want to keep at a reduced interest rate with forgiveness of all the fees added on while they waited these past 2 years to get denied?
    That instead of you paying the servicer- Bank and their foreclosure mill lawyers $$$$ to foreclose when the owner has the ability to pay you just at a better rate.
    Now you let properties sit and rot and sell them for a great loss sometimes more than a year after the foreclosure.
    You want the taxpayers to pay for this?

  2. Tina says:

    GO TO HELL FANNIE MAE – TAKE IT OUT OF YOUR PROFITS FROM ALL THE FORECLOSURES AND INSURANCE POLICIES ASSHOLES!

    N O- M O N E Y G I V E N T O A N Y BANK 4 ANY REASON.

    ::::scratching her head:::::::::: shouldn’t they be in prison by now?

  3. Scotty Simpson says:

    They need to let Fannie Mae fail and then see what happens.

  4. lies is all they tell says:

    so fannie is still working on americans ignorance. we have already uncovered all the fraud. 60 min was on again last night. come on america wake up. none of the mortgages were funded by the banks. we all have origination fraud. the mortgages were funded by investors. they are not listed on the mortgage or note. they never expected this to be dicovered. in our mommy and daddy’s day and just in the past 6 years ago foreclosures were just people down on their luck whom for reason i can not understand (because homes were selling) folks were foreclosed. i ask a woman i new once back in 2005 whom worked for a company that bought a sold foreclosures. she told me it was about denial.

    today foreclosures are happening for a different reason yes, it can start with people down on their luck , losing a job a illness. but foreclosures have happened not because some of us cant pay but becuase the the banks wanting our home and will do what it takes to get it. see they somehow bet that our mortgages would fail. they took a side insurance policy a cds or credit default swap insurance. when we default and go to forclosure and the judge signs the summary judgement the bank collects sometimes up to 30 x the amount of our mortgage.

    so people what is the insentive to modify. a bog NONE!!! so when you mak ethat 1st phone call asking about a modification the wheel start turning to get you out of that mortgage so they can collect.
    since 2009 wells fargo has done everythign you can possibly do to get me out of my home. EVERYTHING i will name them all and i am sure you can agree it sall fraud

    i called in 2009 signed a forebearance 6/09 tol dby oct i should be in a modification

    from 6/09-1/10 i sent paperwrok evry 2 weeks i would call they always lost something that would keep my file going foward. i had to resnd constatntly and of course the envitable happened i am denied hamp? i do not know why i was out of work for 5 months they would not take my app until i was working then deny me?

    they give me an inhouse loan adding 10k and increasing the mortgage not lowering …..the reason i called in the 1st place

    now severely underwater and an illness hits my family after paying 5 months of this modification.

    i call for help again i am told that i can not apply for a hamp loan until i was in eminent default? the actual wording is eminent default unavoidable inthe future. the banks misconstued the wording to thousands of homeowners.

    after finally taking the hamp application i get a call from an upset person from the bank that somemone got her passcode and moved my file

    then 1/11 i get a letter stating to send more paper work by feb 14 (watch the premeditation here) i send it early feb 4th. waitng to call to see if they received it on 2/16/2011 i receive a hamp denial for failure to send paper work required, on 2/21/2011 my notice of foreclosure, and 3/4/2011 my notice of default righ to cure.

    i sent my package by fed ex i have a tracking number and signee. contacting fed ex. i wanted to know what happened to my package. i wanted the driver and signee contact. spke to a supervisor at fed ex. i was told she could not get a answer on the phone. seems fed ex may be paid to play the game to.

    so i wrote all government agencies. and all they did was send this exact info i am writng you .

    so i am not understanding is all the fruad and if we already know then redesign my home mortgage what is the use going after folks who know???

    we have appraisal fraud, mortge origination fraud, modification fraud.

    so people on fo rthe 1st time if you see yourself in my post. erite your government entities. your AG, OCC,, your local government officials. they will not do anything but you will get letter from your bank re staing all the fraud in writing. its great.

    one last thing in the letter from the bank they denie i sent the fed ex signee and tracking number. it was coppied form the fed ex web site. wonder if the judge will beleive me or them????????

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