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Follow the Money: How Fannie Mae Bought the Democrat Party
2008-10-05 00:54:00 Technorati Tags:: Corruption, Democrat, fannie mae, Freddie Mac BitsBlog Tags: Democrats, Freddie Mac, fannie mae, Corruption, Democrat Related posts Who is Responsible for the Meltdown, Redux (0) Nightly Ramble:More on the Debate; More (1) Nightly Ramble:Bailout Mania And Minutiae; Take the Gloves Off, Senator; More (0) When the Democrats Play Dirty Tricks on Each Other, the Loyalists Blame the Republicans. (1) What_are_the_Swamp_Stompers? (0) Wading Through a Series of Unattractive Options (1) Voter Fraud, Motor Voter, Spitzer, And the Democrats (2) Trent Lott Out? (0) Times Figures It Out: Spitzer Pushed Staff’s Effort to Smear Bruno (0) The Sleeze Oozes From Eliot Spiter’s Office (0)
By: BitsBlog
Fannie Mae Bad Credit Loans
2008-10-03 06:50:00 direct bank cash advances bad credit private car loans no fax no phone calls quick loans credit based student loans ripoffreport quicken loans customer review of ge money loan loans to assets ratio citifinancial auto no call used car loan payday advances through moneygram fbad credit loans payday loans in glasgow 1000 dollar payday loans absolutely no credit check loans direct payday lenders online- cash voucher from hfc instant cash loans india
By: Mobiac
McCain Calls Out Obama?s Fannie Mae Friend
2008-09-19 17:19:00 Awesome. It is about time the McCain campaign starts informing people about who Obama’s “trust circle” really is. After all, the Liberal Media won’t do it. I’m hoping for an Obama-Bill Ayers commercial soon, too. -Bruce (GayPatriot)
By: GayPatriot
McCain has a Plan!
2008-09-19 01:06:00 John McCain took his strongest economic stand yet in the midst of our tumbling markets. Calling for the firing of SEC Chairman Christopher Cox for “betray[ing] the public’s trust.” McCain said the SEC allowed abusive short-selling on company stocks turning “our markets into a casino.” According to the WSJ: “Short-sellers have been blamed ...
By: shyspeak.net
McCain and Obama Fiddle While America Burns
2008-09-18 03:33:00 The Dow has dropped 800 points in the last three days and what are McCain and Obama doing? Blaming the other party, of course. Listen to McCain and he’ll tell you the current crisis is all the Democrats fault, and listen to Obama and the blame lies with the Republicans. I say, ...
By: shyspeak.net
The Fall of the Giants
2008-09-09 16:19:00 Back on the job? USA Today was in a blue mood on Friday. The stock market fell more than 300 points the day before, after its reporter realized that falling commodity prices were not necessarily such good news. “Investors fear that crashing…
By: Jutia Group
Fannie Mae and Freddie Mac needed a boost
2008-09-08 17:41:00 After five years of corporate scandals, from Enron to Tyco, then the foolish Sarbanes Oxley law that increased the cost of doing business and accomplished nothing ... we finally get to an important step in the housing recovery.Fannie Mae and Freddie Mac didn't cause the housing bubble, if there was one, or the related over-reaction of the banks and credit markets to value problems. They exist to create liquid markets for mortgage securities. The government can step in, calm the markets and restore some liquidity to credit in general, then reorganize and step back out. If the end result of all this is a profit to the Federal Government, like the Chrysler bail-out, then better yet. I posted on Active Rain with quotes from negative economic types, but it is my firm position that we are well on our way to a massive housing recovery. If you are thinking about buying, do it, because we've just dipped back below 6% on mortgages and the markets may have hit their price bottoms.
By: Synergy Thoughts
Palin Confuses Freddie Mac & Fannie Mae and Government Role - First Gaffe
2008-09-08 02:52:00 Well, McCain campaign advisor Todd Harris said they didn't want Alaska Governor Sarah Palin to make a mistake early on, and that's exactly what happened today. Palin, commenting on the news that the Federal Goverment was going to take over the poortly performing loan organizations Freddie Mac and Fanny Mae, apparently did not know that the firms were privately owned and held. Palin said this, as written by the McClatchy Washington Bureau: McCain's running mate, Alaska Gov. Sarah Palin, speaking in Colorado Springs, Colo., said Fannie and Freddie had "gotten too big and too expensive to the taxpayers." The companies, however, aren't taxpayer funded but operate as private companies. The takeover may result in a taxpayer bailout during reorganization.It's this basic lack of knoweldge of Federal Government operation that both Obama / Biden supporters and GOP backers who questioned McCain's logic in selecting Palin are concerned with. Palin has no experience in t...
Are the Sub-Prime, Northern Rock, Fannie Mae and Freddie Mac fiascos connec
2008-07-31 21:34:00 Nearly ten years ago a Vicar told me that 80% of the couples he married said they were cohabiting. He added that he thought 50% of the rest were not telling the truth. He was exaggerating, but had spotted a trend. At about the same time, when I asked a Superintendent Registrar whether she thought banks ...
Fannie Mae, Freddie Mac Accelerate Foreclosure Aid Plan
2008-07-25 18:55:00 The Bush Administration is trying to save mortgage giants Fannie Mae and Freddie Mac, in order to prevent the nation?s economy crashing in mortgage defaults. The President and the Senators are eagerly waiting to pass a foreclosure aid plan. It would help 400,000 real estate owners in getting affordable fixed-rate loans. The White House approved ...
Fannie Mae and Freddie Mac
2008-07-17 09:54:00 Why should the world be concerned about these US housing mortgage companies? health? It was on 13th July that we noted first about them. Look at it here. Their full names are Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). One can?t help but feel a sense of déjà vu when reading about them again and again. The figures being reported about their liabilities keep going up. The two institutions are now reported to have bought or guaranteed almost half the $12 trillion housing mortgages. As government-sponsored entities, their debt had been regarded as almost as good as gilts and hence is held by many central banks worldwide. Amazingly, it now transpires that their direct and guaranteed liabilities were almost 65 times their regulatory capital at the end of the first quarter. The US government is trying to rescue the mortgage giants whose shares came under acute selling pressure last week on fears that th...
By: Discover It
Is it time to phase out Fannie Mae?
2008-07-14 17:59:00 My first gut reaction is NO!But, I have to balance my 20 years in the home building and real estate industries with my highly cognizant political philosophy of smaller government and free enterprise.While reading The Foundry today I was struck by the message, namely that Fannie Mae and Freddie Mac may have outlived their life expectancies. Would a free market entity be able to borrow at lower than market rates? NO Has this benefit to housing outlived its usefulness?I know, I know, we want to increase liquidity of the mortgage securitization markets, that's been the mantra for years. But did liquidity and securitization obscure the true cost of big government keeping it's fingers in home ownership?Update: Great post on Calculated Risk on FNMA and who's fault it is. I may disagree a bit with the author, who tends to level a lot of blame, but agree actually with the original article he calls out by Paul Krugman. Read up and let me know where you land?The Left's Crony Capit...
By: Synergy Thoughts
Fannie Mae, Freddie Mac Revise Policies
2008-05-31 01:37:00 This just in from Darin Marquardt of Chase Home Loans:Fannie Mae and Freddie Mac have recently announced that they are eliminating their declining market policies beginning June 1st. Additional details will be provided when they are received from the Agencies. It is important to note that the mortgage insurance companies still continue to underwrite loans to their declining market polices, so MI restrictions will still apply for now. In light of the Agency announcement, Chase plans to eliminate the Agency declining market policy in an upcoming release. Until further notice, loans should continue to be decisioned per posted policies and product guides.To get prequalified, click here.
?Declining home prices, not over? ? CEO (Fannie Mae)
2008-05-26 20:05:00 For the CEO of Fannie Mae, the housing crisis is only halfway through. In fact, in a meeting with shareholders, President Daniel Mudd stated that home prices are likely to decline further, by as much as 25 percent.
Las Vegas Bank of America?s Fannie Mae MyCommunityMortgage® Program
2008-05-23 19:36:00 Bank of America’s Fannie Mae MyCommunityMortgage® Program is an affordable mortgage program designed to meet your low-to-moderate income clients’ needs when they have limited funds available for a down payment. • Minimal down payment required• Low mortgage insurance • Flexible underwriting guidelines • No income limits in select designated locations (determined by Fannie Mae) • Extended terms available to help meet your clients’ budget needs – available on our fixed-rate, interest only, or fully amortizing adjustable rate mortgages (ARMs) Available for borrowers with incomes at or below 100% of the area’s median income,1 purchasing in a FannieNeighborsTM designated area or are refinancing. Borrowers must meet income or property eligibility guidelines. Additionally, this program offers enhanced guidelines to teachers, police officers, firefighters, healthcare workers, military personnel and borrowers with a disability2. We&rs...
Are Fannie Mae and Freddie Mac A Danger To US Economy?
2008-05-19 11:35:00 When trying to see the long term implications of the housing slowdown and the credit crisis, you have to put the 2 quasi governmental lenders front and center in the discussion. Fannie Mae and Freddie Mac combined provide the support structure for mortgage lending in the United States. Be it setting benchmarks on lending or ...
Fannie Mae: Building The Underwater Mortgages Of Tomorrow
2008-05-19 09:01:00 Fannie Mae continues to trod where other lenders don’t dare to tread- they are no longer worrying about loaning in "declining markets": WASHINGTON, DC — Fannie Mae (FNM/NYSE) today announced a new, national policy on down payment requirements for conventional, conforming mortgages the company will purchase or guarantee. Starting June 1, 2008, Fannie ...
By: HousingDoom
Fannie Mae Backs Away From ?Declining? Markets
2008-05-19 06:37:00 Last year both Fannie Mae and Freddie Mac, the big buyers of local mortgages, decided that falling real estate values required a change in the way they underwrite mortgages: In areas they identified as “declining” markets buyers would need an additional 5 percent down. For reverse mortgage borrowers the new policy has been troubling. Why? Because ... read more
NAR's many updates from Mid Year, Gateway, Fannie Mae, Credit Union and muc
2008-05-19 02:32:00 The "Gateway" is now called "Real Estate Library / Archives" is proceeding. The goal is make a place that Realtors® only can access to receive any and all information (taxes and history) on any given property. The start up funding was approved last year, at this meeting they approved moving forward to negotiate with a provider to provide a working model. http://www.realtor.org/realtora-e.nsf/pages/webcast?OpenDocumen-t#warch Immigration: NAR approved "Immigration Statement of Principles". In simple text, NAR supports legal immigrants owning real estate. NAR also supports borders controls to stop illegal immigration. Election process changes: Too many to type, please see www.Realtor.org for details. This doesn't really affect us at the local level. 2009 National Association of Realtors® Leadership: President: Charles McMillan, Irving, Texas President-Elect: Vicki Cox Golder, CRB, Tucson, Arizona Firs...
Fannie Mae Announces Single National Down Payment Policy
2008-05-17 20:20:00 Replaces Policy Regarding Markets Where Home Prices are Declining. WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced yesterday a new, national policy on down payment requirements for conventional, conforming mortgages the company will purchase or guarantee. Starting June 1, 2008, Fannie Mae will accept up to 97 percent loan-to-value ratios for conventional, conforming mortgages processed through its ...
Fare play from Fannie Mae
2008-05-17 01:06:00 Down payments are equalized across the country Fannie Mae today announced a new, national policy on down payment requirements for conventional, conforming mortgages the company will purchase or guarantee. A conventional mortgage is one which the interest rate does not change during the entire term of the loan. A conforming loan is one which meets the standards of the lender. Starting June 1, 2008, Fannie Mae will accept up to 97 percent loan-to-value ratios for conventional and conforming mortgages processed through its Desktop Underwriter® automated underwriting system, and 95 percent loan-to-value ratios for loans underwritten outside of Desktop Underwriter, in all geographic locations in the United States. The new national down payment policy will supersede the policy the company adopted in December 2007 that required higher down payments in markets where home prices are declining. The stimulus package pass...
Fannie Mae Reverses Decision on Declining Markets
2008-05-16 18:08:00 In surprise move, Fannie Mae has reversed its policy on down payments in declining markets. The earlier policy move forced home buyers to put extra money down, 10%, to buy a home.The new policy puts the down payments at 3%-5%, though mortgage insurers won't do 97% loans any more.Washington-based Fannie (FNM, Fortune 500) says the move is part of its effort to help resuscitate the flagging mortgage market.This actually makes a little bit of sense as declining markets become a self-fulfilling prophecy, especially if loans are harder to get. This is the first sign of credit loosening in the mortgage markets.On a related note, I'm getting feedback from buyers and real estate agents in Las Vegas that there is a buying frenzy on bank owned homes. One client I'm working with is facing multiple offer situations on every home he's bid on. His agent claims this is common in the area. Buying sentiment has shifted positive as prices have come down.I'm hearing the opposite in Salt Lake...
Venice Surf Report 05/07/08 Fannie's Freaking Fabulous
2008-05-07 16:11:00 Guess what? Low tide, drained out crap again this morning!I know, I was as shocked as you. But with a -1.6 ft low at 5:40 well, there ain't a whole lot of water for the minimal swell to work with, and as a result anything with any size (i.e. knee high+) hits the outside bar, jacks up and falls on dry sand.There should be a big improvement as the tide fills in, and yesterday afternoon was actually kinda fun, so I see no reason why there shouldn't be some potential around 10 am or so. Just keep on eye on the wind.One out(?), nobody else even thinking about it, The Dummy eating garbage from one of the cans in the lot, dead calm, cool and overcast.Tommy was there this morning telling me a story about some dude the cops chased onto Washington down near the pier and the guy apparently T-Boned about 12 cars and stabbed a cop with a hypo before finally being subdued. I can't find any reference to it in the LA Times (although that doesn't mean much); did anyone see or hear this thing goi...
Fannie Mae forecasts home prices will keep going down this year
2008-05-07 02:15:00 This from AP via Yahoo Finance: WASHINGTON (AP) — The outlook for the housing market darkened further Tuesday as the nation’s largest buyer of home mortgages said it racked up more than $2 billion in quarterly losses and forecast a steeper drop in home prices this year. If Fannie Mae’s prediction proves true, the real estate woes ...
By: National Bubble
Without Laughter, We Would All be Doomed
2008-05-03 02:27:00 I came across this video on YouTube that I just had to share with you all. It is an excellent housing bubble parody and will certainly put a smile on your face (hopefully anyway) and break the bleakness that has overwhelmed out housing market. Enjoy….
Fannie Mae Chief Executive Predicts National Housing Recovery in 2010
2008-04-30 16:32:00 The head of Fannie Mae is predicting a slow real estate market spanning through 2009 as indicators such as the Case Shiller report as showing even greater weakness in the market. Daniel Mudd predicts the slowdown lasting longer than many other prognosticators, but interesting enough recognizes that he is guessing as forecasting housing is not ...
Fannie Mae, Freddie Mac Spanked For New Accounting Problems
2008-04-23 13:47:00 Is this any surprise, both Freddie Mac and Fannie Mae are now being told to moderate their aggressive accounting methods and be more prudent on the numbers they are reporting. The issue is a bit esoteric but coming after the accounting scandals that enveloped the agencies in the past year, any hint of impropriety should ...
Fannie And Freddie Meltdown Could Cost Up To $1.1 Trillion
2008-04-22 17:10:00 Here?s something to think about. According to CNN Money yesterday, credit rating agency Standard & Poor?s recently estimated that a financial meltdown at mortgage financing giants Fannie Mae and Freddie Mac could require a taxpayer bailout costing $420 billion to $1.1 trillion. CNN Money senior writer Chris Isidore noted that this staggering amount ...
By: Boom2Bust.com
Fannie Mae and Freedie Mac are in big trouble
2008-04-22 13:55:00 Fannie Mae and Freedie Mac are in big trouble and this will cost taxpayers many billion dollars. According to CNNMoney.com: The trillion-dollar mortgage time bomb NEW YORK (CNNMoney.com) — Among the nightmares lurking around the corner for the already battered housing and credit markets would be a meltdown at mortgage financing giants Fannie Mae and Freddie Mac. Although ...
By: National Bubble
OFHEO Releases Annual Report To Congress
2008-04-15 16:26:00 WASHINGTON, DC ? James B. Lockhart, Director of the Office of Federal Housing Enterprise Oversight (OFHEO) today released OFHEO?s 2008 Report to Congress, detailing the agency?s annual examination conclusions and regulatory oversight of the Government Sponsored Enterprise (GSE), Fannie Mae and Freddie Mac, for the year 2007. The report concludes that both Enterprises made very good ...
Latest Fannie Mae Mortgage Restrictions - Find Out if This Effects You!
2008-04-15 00:00:00 Unfortunately for Saint Louis MO and Saint Charles MO home buyers, getting approved for a home loan from sources who sell to Fannie Mae (conforming loans) just got tougher. Yet Again. Nationally, as home loan defaults continue to rise, government-backed...
New Foreclosure Guidelines Set By Fannie Mae
2008-04-09 09:39:00 Starting effective June 1, 2008, for loans to be considered by Fannie Mae from any potential borrowers, their credit history must be cleared from any foreclosure activities for at least 5 years. Whereas before, Fannie Mae required borrowers 4 years for their credit history to re-establish. They have allowed a lesser time period to elapse ...SHARETHIS.addEntry({ title: "New Foreclosure Guidelines Set By Fannie Mae", url: "http://yourrealestatechic.com/-new-foreclosure-guidelines-set--by-fannie-mae/" });
Facing Downturn, Fannie Mae Raises Levels For Mortgage Qualification
2008-04-03 16:36:00 Fannie Mae is tightening down the ship as foreclosures and bad debt piles up on it’s balance sheet. Previously they did not have a minimum FICO score for buying a loan, now it is 580. Another criteria for buying a loan is that the buyer not have a foreclosure on the record for 5 years, ...
Freddie Mac and Fannie Mae Trim Reserves To Revitilize the Market
2008-03-21 15:27:00 Freddie Mac and Fannie Mae were given the go ahead to trim their capital reserves to increase liquidity in the mortgage markets. The move will allow the two to add up to 200 billion in new mortgages for the United States housing market. Of course there is a down side. By reducing the capital of ...
OFHEO, Fannie Mae and Freddie Mac Announce Initiative To Increase Mortgage
2008-03-21 00:00:00 Washington, DC - OFHEO, Fannie Mae and Freddie Mac today announced a major initiative to increase liquidity in support of the U.S. mortgage market. The initiative is expected to provide up to $200 billion of immediate liquidity to the mortgage-backed securities market.
Fannie Mae?s CEO: home prices will continue to go down
2008-03-19 22:12:00 Fannie Mae’s CEO Daniel H. Mudd told CNBC the following: As for how long the housing slump will go on, Mudd noted that, from peak to trough, average home prices typically go down 13 to 17 percent. There was about a 3 percent drop last year, and a 5 to 7 percent decline projected for this ...
By: National Bubble
OFHEO, Fannie Mae And Freddie Mac Cuts Excess Capital Level by a Third
2008-03-19 19:12:00 Washington, DC - OFHEO, Fannie Mae and Freddie Mac today announced a major initiative to increase liquidity in support of the U.S. mortgage market. The initiative is expected to provide up to $200 billion of immediate liquidity to the mortgage-backed securities market. OFHEO estimates that Fannie Mae?s and Freddie Mac?s existing capabilities, combined with ...
Fannie and Freddie OK?ed to Become Insolvent?
2008-03-19 15:02:00 I must admit this doesn’t make a lot of sense in the general scheme of things, however, with the Fed ready to step in and bailout everyone who is failing, it makes sense. Fannie Mae and Freddie Mac are having their capital requirements loosened by the Office of Federal Housing Enterprise Oversight. Excuse me, but isn’t ...
Could Fannie Mae Go Belly Up?
2008-03-14 20:33:00 That is the question that is being asked over at Smart Money. They have gone through the balance sheet of the public private mortgage guarantor are concerned. Creative accounting and overly positive projections paint a picture that could be far from reality. This would not be as worrisome but the past history of Fannie Mae ...
Fannie Mae CEO visits investors in Asia, Europe: report
(Reuters)
2008-03-11 05:11:00 Mon Mar 10, 5:38 AM ET ...
Fannie Mae and Freddie Mac
2008-03-08 02:50:00 Daily Real Estate News | March 6, 2008New Appraisal Rules for Freddie, Fannie Fannie Mae and Freddie Mac have reached an agreement with New York Attorney General Andrew Cuomo that requires them to have independent appraisals of home values. Under the agreement, home appraisals have to come from assessors who don't have formal ties with a lender or mortgage broker. Lenders wishing to sell their mortgages to the nation's two largest sources of home finance must make sure that they don't rely on in-house appraisers and don't own an appraisal firm itself, according to the agreement drafted by Fannie Mae. This agreement brings to an end a large portion of an investigation by New York State into how Wall Street bundled and sold millions of dollars of questionable home loans. The agreement has three tenets and applies to lenders nationwide: Under the newly created Home Valuation Protection, mortgage brokers are prohibited from selecti...
Temporary 2008 Conforming Loan Limits Released For High Cost Areas
2008-03-07 07:06:00 Washington, DC ? The Office of Federal Housing Enterprise Oversight (OFHEO) today released the maximum conforming loan limits that will be in effect through year-end as a result of The Economic Stimulus Act of 2008. That legislation permits Fannie Mae and Freddie Mac to raise their conforming loan limits in certain high-cost areas. The new ...
Appraisal Fraud: Fannie Mae And Freddie Mac Sign Agreements To Combat Appra
2008-03-04 00:00:00 Accurate, independent appraisals are very important to ensuring the safety and soundness of Fannie Mae, Freddie Mac and the mortgage market," said Director Lockhart. "These agreements build upon existing federal and state laws and regulations to further strengthen the single-family home appraisal process. The agreements should help restore confidence in the mortgage market by enhancing underwriting practices, reducing mortgage fraud and making home valuations more reliable. I thank the Attorney General, Fannie Mae and Freddie Mac for their strong roles in this important effort.
OFHEO, NY Attorney General, Fannie Mae And Freddie Mac Sign Agreements to C
2008-03-03 18:25:00 Washington, DC? OFHEO Director James B. Lockhart announced agreements with OFHEO, New York State Attorney General Andrew Cuomo, Fannie Mae and Freddie Mac (Government Sponsored Enterprise (GSE)) to strengthen the independence of the appraisal process. For mortgages the Enterprises buy or guarantee, the agreements seek to enhance appraisal and evaluation services that are ...
Fannie Mae: Investment Caps Up, Profits Down
2008-02-27 17:47:00 James Lockhart of the OFHEO announced that as Fannie Mae and Freddie Mac are now filing timely statements, there would be some changes: The federal regulator for Fannie Mae and Freddie Mac said on Wednesday it would lift an investment cap for the mortgage companies, in a move that will give them more ...
By: HousingDoom
Widespread House Price Declines In Fourth Quarter
2008-02-26 16:41:00 Pockets of Strength Remain; Coasts, Midwest Show Biggest Declines WASHINGTON, DC ? U.S. home prices fell in the fourth quarter of 2007 according to OFHEO?s seasonally-adjusted purchase-only house price index. The index, which is based on data from home sales, was 1.3 percent lower on a seasonally-adjusted basis in the fourth quarter than in the ...
U.S. Debt In Foreign Hands, Russia to Buy Fannie and Freddie, Financials to
2008-02-22 20:39:00 by Addison Wiggin & Ian Mathias Surprising data: U.S. debt still has takers… is our democracy doomed? Russian SWFs get OK to invest in America? but only in the two worst stocks on the market Analyst that predicated the January financials plunge calls for 15-50% more losses How a Philadelphia survey might herald an entire U.S. manufacturing decline ...
Lending Guidelines on Investment Property
2008-02-20 16:46:00 I found a great post from BiggerPockets.com today. It talks about the lending guidelines that Fannie Mae & Freddie Mac have on Investment Properties. Instead of rehashing the entire article- here’s the gist of it. Full Documentation: Ideal for borrowers looking for conforming loan amounts who have good credit and assets: 1 unit: 90% LTV / 85% ...
By: REI Pipeline.com
Increasing Conforming Loan Limits?
2008-01-25 17:34:00 Congress was rumored last week to increase conforming loan limits, what is the chance that we will see an increased somewhat? (...)
Increasing Conforming Loan Limits?
2008-01-25 17:34:00 Congress was rumored last week to increase conforming loan limits, what is the chance that we will see an increased somewhat? The president and Secretary Paulson have made it very clear that really want that to happen with various [tag-cat]Government Sponsored Enterprise[/tag-cat] reform in place. Would that be good for the credit market? Some people think ... |
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