Fannie Lowering Waiver Requirements

[Cotton Cornell]

Democrats = Create the problem than offer the solution that produces the most profit for them and their evil cult members. The party of hate, lies, deception, racial division and treason. So elfin sad! To date zero evidence of appraisal bias. HUD, Fannie, BOA and Wells are scanning appraisals looking for evidence of wide spread bias. Zero evidence has been found. The only thing we have is a bunch of articles written by left wing lunatics with zero support for their accusations! Say the lie enough times hoping people are stupid enough to believe it! Cant wait to watch the GSEs get gutted and sent back into the wild to fend for themselves!

 

[J Grant]

I'm probably almost not. typical, but I have a 2% and 3% mortgage that Fannie bought. I will continue to send them a check, along with 100-million other homeowners for the next 10 to 20-years. So they have an income stream, but they 'essentially' owe the government, let's say, $3 trillion, and the income stream is only worth 1.5 trillion. So the US tax payer (our grandchildren) will have it thrown on the national debt and someone will make it an IPO that will make one hundred billionaires and extra few billions. (numbers are just rough estimate and no liability is assumed).

I hope this one doesn't slip by the Doge Bros. Fannie has 8,100 employees and Freddie 6,900 at last count. : )

The DOGE bros are billionaires that will help other billionaires and are on the side of the bankers and the corrupt - they are going to slash govt services to the little folks - food stamps, unemployment insurance, health dept, FDA etc - services that working people or any needy in the red states rely on as much or more as the blue states

I predict Elon will add in lucrative govt Space X contracts for his own companies as he slashes services -he called American workers retarded; that is the tip of the iceberg of how these folks, including Trump, view the American working class - Trump got their votes, he does not need them anymore.

 

[Sadie]

I'm probably almost not. typical, but I have a 2% and 3% mortgage that Fannie bought. I will continue to send them a check, along with 100-million other homeowners for the next 10 to 20-years. So they have an income stream, but they 'essentially' owe the government, let's say, $3 trillion, and the income stream is only worth 1.5 trillion. So the US tax payer (our grandchildren) will have it thrown on the national debt and someone will make it an IPO that will make one hundred billionaires and extra few billions. (numbers are just rough estimate and no liability is assumed).

I hope this one doesn't slip by the Doge Bros. Fannie has 8,100 employees and Freddie 6,900 at last count. : )

Fannie and Freddie have already paid back their bail out. But they are still under conservatorship. Fannie got 116 B and paided back 142 B. The 116 B was paid back in full by 2014. Don't know Freddie's timeline.

 

[TerryRohrer]

Fannie and Freddie have already paid back their bail out. But they are still under conservatorship. Fannie got 116 B and paided back 142 B. The 116 B was paid back in full by 2014. Don't know Freddie's timeline.

They didn't take out a HELOC. They failed. Their leadership agreed that they had failed and agreed to the conservatorship. There is no provision regarding a "payback" in the legislation that created the conservatorship mechanism.

"On September 6, 2008, with the consent of both Fannie Mae's and Freddie Mac's (the Enterprises) boards of directors, the Director of FHFA exercised statutory authority to place each Enterprise into conservatorship. This established the two conservatorships in response to a substantial deterioration in the housing markets that severely damaged each Enterprise's financial condition and left both of them unable to fulfill their missions without government intervention."

History of Fannie Mae and Freddie Mac Conservatorships | FEDERAL HOUSING FINANCE AGENCY

On September 6, 2008, with the consent of both Fannie Mae's and Freddie Mac's (the Enterprises) boards of directors, the Director of FHFA exercised statutory authority to place each Enterprise into

www.fhfa.gov

 

[realestatejob]

So in the real estate meltdown in 2007-2008, Not 1 banker went to prison or got into any trouble for their bad loans, the tax payer's bailed them out because they were " too big to fail". Now after this, they allowed the large banks to buy up all the smaller banks and now they even MORE too big to fail. No one was held accountable for anything for all fraud that went on that led to the last crisis. Now they are even taking away appraisals as a safeguard for over valuation- training diverse appraiser's online with no training- while they are destroying the appraisal industry. Americans will never learn and will never do anything to stop this corruption.

 

[realestatejob]

Democrats = Create the problem than offer the solution that produces the most profit for them and their evil cult members. The party of hate, lies, deception, racial division and treason. So elfin sad! To date zero evidence of appraisal bias. HUD, Fannie, BOA and Wells are scanning appraisals looking for evidence of wide spread bias. Zero evidence has been found. The only thing we have is a bunch of articles written by left wing lunatics with zero support for their accusations! Say the lie enough times hoping people are stupid enough to believe it! Cant wait to watch the GSEs get gutted and sent back into the wild to fend for themselves!

thank goodness someone knows what is going on!

 

[Fritz in NY]

We have basically NO representation on any level. Just pawns in the game.

 

[Elliott]

From Jeremy Baggot 1/24/25:

"The mortgage-backed securities are worth much less than the Fed paid for them. The Fed’s midyear 2024 financial statement showed an unrealized market value loss of $423 billion on its mortgage-backed securities investments, reported Pollock and Kupiec. This loss was nearly 10 times the Fed’s financial statement reported capital of $43 billion.

Pollock and Kupiec used the term “reported capital” because the Fed suffered $207 billion in realized cash operating losses that it did not deduct from its reported capital. Using standard accounting rules, Pollock and Kupiec calculated, the Fed’s actual capital as of Oct. 30, was $43 billion minus its accumulated cash operating loss of $207 billion; or negative $164 billion. In addition, the Fed has $423 billion in unrealized mortgage-backed securities market value losses because interest rates are much higher than the rates the Fed earns on the mortgage-backed securities."

....................

Government accounting is so use to lying, why would it be bothered by LTV based on 'waivers.'

 

[NC Appraising]

From Jeremy Baggot 1/24/25:

"The mortgage-backed securities are worth much less than the Fed paid for them. The Fed’s midyear 2024 financial statement showed an unrealized market value loss of $423 billion on its mortgage-backed securities investments, reported Pollock and Kupiec. This loss was nearly 10 times the Fed’s financial statement reported capital of $43 billion.

Pollock and Kupiec used the term “reported capital” because the Fed suffered $207 billion in realized cash operating losses that it did not deduct from its reported capital. Using standard accounting rules, Pollock and Kupiec calculated, the Fed’s actual capital as of Oct. 30, was $43 billion minus its accumulated cash operating loss of $207 billion; or negative $164 billion. In addition, the Fed has $423 billion in unrealized mortgage-backed securities market value losses because interest rates are much higher than the rates the Fed earns on the mortgage-backed securities."

....................

Government accounting is so use to lying, why would it be bothered by LTV based on 'waivers.'

Doesn't matter. It's all a ponzi scheme.

Last round it was the banks.

This round it will be the mortgage bankers.

The powers that be already have the buyers set up for this collapse. Unfortunately, it will not be us. It will be black rock and other private equity firms.

 

[TerryRohrer]

From Jeremy Baggot 1/24/25:

"The mortgage-backed securities are worth much less than the Fed paid for them. The Fed’s midyear 2024 financial statement showed an unrealized market value loss of $423 billion on its mortgage-backed securities investments, reported Pollock and Kupiec. This loss was nearly 10 times the Fed’s financial statement reported capital of $43 billion.

Pollock and Kupiec used the term “reported capital” because the Fed suffered $207 billion in realized cash operating losses that it did not deduct from its reported capital. Using standard accounting rules, Pollock and Kupiec calculated, the Fed’s actual capital as of Oct. 30, was $43 billion minus its accumulated cash operating loss of $207 billion; or negative $164 billion. In addition, the Fed has $423 billion in unrealized mortgage-backed securities market value losses because interest rates are much higher than the rates the Fed earns on the mortgage-backed securities."

....................

Government accounting is so use to lying, why would it be bothered by LTV based on 'waivers.'

And the FED only owns about a quarter of that trash. I wonder what other suckers are hiding their failed investments and what those losses might mean for the economy if (when?) those losses have to be recognized. Whatever happened to accounting rules that required balance sheets to reflect asset values?