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Freddie Mac Extends Appraisal-free Mortgage Program To Purchase Loans

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With no representation in congress and the Appraisal Institute sleeping, we might not be around for long.
I am curious as to specifically what you have done personally to address this issue? You are quick to point fingers at others for, in your judgement, not taking suffcient action to address this issue that you seem to feel is of great importance. Based on a search of AIs membership directory your name doesnt even appear.

While you are entitle to have an opinion on the Fannie/Freddie issue, you need to take action yourself before accusing others (incorrectly) of not doing anything.
 
Yes they both did fail the stress test after all the bail out received.
They failed the street test because the government has completely looted the assets of these entities by sweeping all profits and leaving them with little reserves. So far the GSE's have paid the government over $270 billion dollars, which is over $83 Billion dollars more than they ever received from the government. The results of the stress test would have turned quite differently if the government had allowed the GSE's to keep their profits or even build adequate reserves after they repaid the funds that they borrowed, like every other institution (i.e., AIG and the big banks) was allowed to do. Thus, the stress test as it is concocted under current circumstances has zero to do with the actually viability of the GSE's.
 
They failed the street test because the government has completely looted the assets of these entities by sweeping all profits and leaving them with little reserves. So far the GSE's have paid the government over $270 billion dollars, which is over $83 Billion dollars more than they ever received from the government. The results of the stress test would have turned quite differently if the government had allowed the GSE's to keep their profits or even build adequate reserves after they repaid the funds that they borrowed, like every other institution (i.e., AIG and the big banks) was allowed to do. Thus, the stress test as it is concocted under current circumstances has zero to do with the actually viability of the GSE's.

Are you saying we now have the white collar guys robbing the white collar guys ?? Where's the "trickle down" effect now........LOL
 
Are you saying we now have the white collar guys robbing the white collar guys ?? Where's the "trickle down" effect now........LOL
No, what I am saying is that we have a government that used the events of 2007-2008 to seize and essentially nationalize 2 public traded corporations without compensating the shareholders and which has looted these two companies on an ongoing basis in order to fund continuing government opportunities, leaving them with no reserves. Then, the government mandates a stress test that the two companies fail precisely because they lack the reserves that the government looted from them and the results of this stress test are that the government can continue to claim that these companies are not viable enterprises and still need to be controlled by the government. This will continue to go on until these two companies no longer are feeding tens of billions dollars per year into the US treasury and then who knows what happens at that point

No matter what you think about Fannie and Freddie, the fact that the government has essentially stolen the shareholder equity and profits of two privately held companies should be concerning to everyone.
 
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They failed the street test because the government has completely looted the assets of these entities by sweeping all profits and leaving them with little reserves. So far the GSE's have paid the government over $270 billion dollars, which is over $83 Billion dollars more than they ever received from the government. The results of the stress test would have turned quite differently if the government had allowed the GSE's to keep their profits or even build adequate reserves after they repaid the funds that they borrowed, like every other institution (i.e., AIG and the big banks) was allowed to do. Thus, the stress test as it is concocted under current circumstances has zero to do with the actually viability of the GSE's.

Was that just to F&F ? I thought the Total was $750+ Billion or am I missing something ?
 
No, what I am saying is that we have a government that used the events of 2007-2008 to seize and essentially nationalize 2 public traded corporations without compensating the shareholders and which has looted these two companies on an ongoing basis in order to fund continuing government opportunities, leaving them with no reserves. Then, the government mandates a stress test that the two companies fail precisely because they lack the reserves that the government looted from them and the results of this stress test are that the government can continue to claim that these are not viable enterprises and still need to be controlled by the government. This will continue to go on until these two companies no longer are feeding tens of billions dollars per year into the US treasury and then who knows what happens at that point.

No matter what you think about Fannie and Freddie, the fact that the government has essentially stolen the shareholder equity and profits of two privately held companies should be concerning to everyone.


Oh I think concern is everywhere, considering it's Tax Dollars that initiated this whole mess.
 
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