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  #1  
Old 10-19-2009, 04:40 PM
Mike Kennedy's Avatar
Mike Kennedy Mike Kennedy is offline
 
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Exclamation FEDS announce new mortgage plan via GSES

"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/stories...10-19-16-11-17
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Old 10-19-2009, 05:13 PM
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Lloyd Bonafide Lloyd Bonafide is offline
 
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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?

  #3  
Old 10-19-2009, 05:52 PM
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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  
Old 10-19-2009, 06:16 PM
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Lloyd Bonafide Lloyd Bonafide is offline
 
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Originally Posted by Lobo Fan View Post
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.

Perfect! Throw all that garbage into the Fed's black hole for mortgage bonds.
  #5  
Old 10-20-2009, 08:22 AM
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Kevin Mc Kevin Mc is offline
 
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Originally Posted by Mike Kennedy View Post
"The new program uses mortgage finance companies Fannie Mae and Freddie Mac to help fix the financing crunch.

Who is going to head this up, Franklin Raines?......
  #6  
Old 10-20-2009, 08:51 AM
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William K William K is offline
 
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Who is going to head this up, Franklin Raines?......
Nope it's -----I'm from the Government and I'm here to help


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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