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Fannie - Freddie Budget Comments

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David C. Johnson

Senior Member
Joined
Jan 15, 2002
Frank,

Thanks.

That's one real ODDBALL article. I am not sure where to start with it. So I won't.

David C. Johnson, Raleigh
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Frank:
I took a VERY close look at those two giants last year and decided that I wanted to have very little to do with them... Culling them out of mutual funds is a bit tricky though. I think a lot of folks would be surprised at how much Fannie and Freddie they personally own.

I am reasonably sure that when the govenment began developing these quasi-govenment business/agencies we started a long slide towards trouble!

It is going to be an interesting ride... I think we finally quit paying for the S&L crisis this year or was it last year...
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
I don't understand the logic of buying a prosthetic limb now, because you KNOW you will loose a leg it in the future. :roll: Sounds like they are admitting to bad money practices. 8O
Mell.
 

Francois K. Gregoire

Thread Starter
Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Florida

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Frank,
Thanks for bring this to our attention. That second article is even more interesting...

Mel: Hunh?

I actually think that as long as the economy stays fairly stable that Fannie/Freddie as they used to be run were fairly safe, as they DID doa fairly good job of loss management... This business of "no one looks at the house" is an open invitation to fraud, in my not so humble estimation.

Also in a rocky economy, which we may be heading into, there is no such thing as "Safe as Houses" I wouldn't want MY money placed there.
(one the other hand if the news drive them down real far: I might buy with money I am not afraid to lose).

Call your congressmen and circle the wagons!
 

Leon Stewart

Member
Joined
Jan 15, 2002
It seems as if the Bush Administration is trying to hedge it's bet in case FNMA & Freddie new policies of "no Appraisal Report" start to falter with increasing foreclosures, and FNMA and Freddie's Stock value could starts to drop significantly, and the Bush Administration could always say they told you so, and indicated that Investors should have cashed out earlier. They don't want to get caught in the middle of FNMA & Freddie downfall like they have gotten themselves caught in the middle of Enron.

leart3
 

wade3333

Senior Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Georgia
Leart3, I'm sure W is hedging his bets on FNMA and Freddie Mac. because when they do go belly up the President will say, I informed the public, so they will know it is not his fault. Isn't that what a good Presdient should do. Wade
 
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