Delinquent Homeowners Get Free Money

| January 27, 2012

Yep, that’s right, if you are a responsible paying citizen you get nothing, but as the The Three Stooges would say, a poke in the eye….we know, yes there are families that really need the help for legitimate reasons, but much of this involves a reward for greed, and irresponsible actions. Oh, how times have changed! The HAMP expansion, called HAMP […]

Fannie Mae Says It Needs Another $7.8 Billion

| November 8, 2011

It’s the gift that keeps taking…. Fannie Mae has now borrowed $111.6 billion from the government, and paid back a mere $17 billion in forced dividends. Freddie Mac has taken more than $71 billion in aid and paid back around $15 billion. The net cost to the taxpayers for bailing out both now stands at […]

S&P Cuts Ratings To Negative For Fannie Mae, Freddie Mac, The Federal Home Loan And Farm Credit

| April 20, 2011

This just in from S&P, which does a follow up to its earlier U.S. outlook warning, and revises its GSE and FHLB outlook to negative.  Let’s remember that this is happening in an economic (supposed) recovery. NEW YORK (Standard & Poor’s) April 20, 2011–Standard & Poor’s Ratings  Services said today that it revised its outlooks on […]

Fannie Mae And Freddie Mac Get Worse By The Minute….Just More Money Down The Toilet

| November 4, 2010

That flushing sound you hear is just more money down the toilet! Two weeks ago, the FHFA, using Moody’s assumptions and modelling, said that a worst case scenario for Fannie and Freddie could result in total costs to taxpayers of $363 billion, an incremental $220 billion to the $148 billion already spent to keep the […]

The Government Entities Appear To Want In On The Fun!

| October 21, 2010

The regulator for Fannie is set to get litigious ….. OCTOBER 21, 2010 By NICK TIMIRAOS The federal regulator overseeing Fannie Mae and Freddie Mac hired a law firm specializing in litigation as the agency considers how to move forward with efforts to recoup billions of dollars on soured mortgage-backed securities purchased from banks and […]

Say It Isn’t So…..Fannie Mae And Freddie Mac Need More Money

| October 21, 2010

These two giant white elephants funded more than 62 percent of new mortgages in the first half of this year, according to Inside Mortgage Finance, a trade publication in Bethesda, Maryland.  It would seem that they some how managed to  loose money on every mortgage funded! Fannie Mae and Freddie Mac the mortgage-finance companies operating under […]

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