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FEDS announce new mortgage plan via GSES

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Mike Kennedy, Oct 19, 2009.

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  1. Mike Kennedy

    Mike Kennedy Elite Member

    59
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    "The Obama administration on Monday unveiled a new program to support state and local housing finance agencies.The plan will help the agencies finance mortgages for first-time homebuyers and develop rental housing."

    "The new program uses mortgage finance companies Fannie Mae and Freddie Mac to help fix the financing crunch. The two companies will package mortgages made by the housing agencies and sell them as bonds to the Treasury Department.

    http://hosted.ap.org/dynamic/storie...SS&TEMPLATE=DEFAULT&CTIME=2009-10-19-16-11-17
     
  2. Lloyd Bonafide

    Lloyd Bonafide Senior Member

    0
    Jan 15, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    It's a good thing that the federal government can print all that money, so they can buy all of those quality mortgages made by cities and states, repackage them, then sell them back to .... the federal government?

    :new_scatter:
     
  3. Lobo Fan

    Lobo Fan Elite Member

    0
    Nov 28, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    New Mexico
    The local housing authority here has had all kinds of problems. They are in default to the state and it looks like jail time for some of their officers. Sweetheart deals for themselves and friends. Really stinky deal.
     
  4. Lloyd Bonafide

    Lloyd Bonafide Senior Member

    0
    Jan 15, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    California

    Perfect! Throw all that garbage into the Fed's black hole for mortgage bonds.
     
  5. Kevin Mc

    Kevin Mc Elite Member

    0
    Jun 7, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    New York

    Who is going to head this up, Franklin Raines?......m2:m2:m2:
     
  6. William K

    William K Senior Member

    0
    Sep 21, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Nope it's -----:banana:I'm from the Government and I'm here to helpwoohoo


    I'd like to see dancing Banana at the news conference introducing him as the head of the new agency. At least everyone will understand this is one giant joke played on all of us!

    I keep waiting for a news flash saying "You've just been PUNK'D"...........
     
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