A Bad Start on Reforming Fannie and Freddie - FORECLOSURE FRAUD

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A Bad Start on Reforming Fannie and Freddie

A Bad Start on Reforming Fannie and Freddie

The Trump administration’s actions suggest it’s unwilling or unable to fix housing finance.

Bloomberg-

This was supposed to be the year when the U.S. government would finally address one of the biggest pieces of unfinished business from the 2008 financial crisis: reforming Fannie Mae and Freddie Mac, the quasi-state entities that dominate the U.S. mortgage market.

Unfortunately, the Trump administration’s actions so far suggest it’s unwilling or unable to handle the task.

 The collapse of the entities during the financial crisis offers a case study on how public-private partnerships can go wrong. Mandated by Congress to promote home ownership, they operated as privately owned corporations that bought and guaranteed mortgage loans. They delivered big profits for private shareholders, thanks in large part to the market’s assumption that the government would bail them out in a crisis. In 2008, that assumption proved correct: Amid heavy losses, the Treasury had to step in with a $187 billion capital injection and put the entities into a government conservatorship.
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2 Responses to “A Bad Start on Reforming Fannie and Freddie”

  1. DeadlyClear says:

    The GSEs didn’t collapse. They were confiscated and by 2012 the GSE profits were used to fund Obamacare in quarterly Newt Worth Sweeps. It appears Trump has ended the NWS and several lawsuits have been filed by shareholders whose funds have been in limbo since 2008. More interesting is the Emissions Cap & Trade legislation that several unsavory politicians have tried to get past and at the same time depose of Fannie, who incidentally owns major USPTO patents devised and paid for by shareholders and taxpayers to make money from the Emissions legislation. It’s just another reason why the global warming syndrome is suspect. BTW Trump immediately pulled out of the Paris Climate PAC – apparently with good reason.

    Why does Fannie Mae own Emissions patents? Good question. Probably because there are billion$ of dollars to be made off of homeowners and Emissions regulations. Goggle Cap & Trade and you’ll see the same players trying to sell Fannie & Freddie off to Wells Fargo or any TBTF…

    Now think about this. The patents are older than the crisis. They are worth billion$ and billion$ and Fannie could have sold them off at any time if it was in dire straights. It wasn’t failing – it was confiscated and certainly not helped out of purgatory by Obama.

  2. JANE LETWIN says:

    GARY, THE EVIL TWINS OF FANNIE AND CHASE HAVE FILED COURT DOCS WITH REDACTIONS- FNMA BLAMED CHASE BUT STILL ADMITTED IT BUT NO EXPLANATION- I THINK THEY ARE HIDING LOAN NUMBERS FOR LOANS THEY SOLD PREMATURELY- SINCE THEIR FORECLOSURES WERE INCOMPLETE–PALM BEACH COUNTY HAS A NICE RING FOR INVESTORS.
    FOUND FED. CASE IN SUPPORT- WILL SEND TO YOU IN NEXT MESSAGE
    THESE REDACTIONS ARE NOT LEGITIMATE FOR CONCEALING SENSITIVE INFO- THEY ARE BRAZEN ABOUT IT. MUST BE WORTHWHILE, EH?

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