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  • Privatizing Fannie Mae and Freddie Mac is a Start

    09/06/2019 10:47:13 AM PDT · by Red Badger · 3 replies
    www.frontpagemag.com ^ | September 5, 2019 | Daniel Greenfield
    The level of government interference and taxpayer exposure in the housing market has always been a huge problem. Higher education and mortgages have been key weapons of social engineering. The creation of massive amounts of debt and the entanglement of the government and taxpayers in mortgages was a major cause of the last economic meltdown. The solution here is at best incomplete, but it's a reasonable next step. Especially when dealing with 2020 Democrats who would love nothing more than to create another trillion dollar catastrophe by bribing their voters like crazy. The Trump administration on Thursday released its first...
  • Kamala Harris Wants To Trigger Another Mortgage Crisis

    07/09/2019 7:25:12 AM PDT · by Kaslin · 30 replies
    Townhall.com ^ | July 9, 2019 | Lawrence Meyers
    Sen. Kamala Harris (D-CA) rolled out a plan to offer grants up to $25,000 to low-income black individuals to help with a down payment and closing costs on home purchases.At first glance, to the economically uninformed, this seems like it's a good idea. We want as many people as possible to own homes for many obvious reasons.Why not subsidize low-income buyers with a $25,000 grant? This would mean that it would be easier to buy a house in a low-income area. The more houses that are bought, the higher the demand, and prices will rise, benefitting everyone.But as with all...
  • Fannie and Freddie Back More Mortgages of Those Deeply in Debt

    05/13/2019 5:09:28 AM PDT · by reaganaut1 · 18 replies
    Wall Street Journal ^ | May 13, 2019 5:30 a.m. ET | Ben Eisen
    The gatekeepers of the American mortgage market are increasingly backing loans to borrowers who have heavy debt loads, highlighting questions about mortgage risk as policy makers debate ways to change the system. Almost 30% of loans that mortgage giants Fannie Mae and Freddie Mac packaged into bonds last year went to home buyers whose total debt payments amounted to more than 43% of their incomes, according to an analysis by industry research group Inside Mortgage Finance. The share has nearly doubled since 2015. Data on other government mortgage programs also show an increase. The backing of these loans opens up...
  • Dems Nuked the Filibuster to Confirm Him, Then He Turned to Sexual Harassment

    02/22/2019 11:50:57 AM PST · by Louis Foxwell · 3 replies
    Front Page ^ | February 22, 2019 | Daniel Greenfield
    Dems Nuked the Filibuster to Confirm Him, Then He Turned to Sexual Harassment Another lingering scandal from Obama’s “scandal-free” administration. February 22, 2019 Daniel Greenfield 16 see comments at FrontPage Daniel Greenfield, a Shillman Journalism Fellow at the Freedom Center, is an investigative journalist and writer focusing on the radical Left and Islamic terrorism In the fall of 2013, the Democrats were outraged that Republicans were blocking Obama’s nomination of Rep. Mel Watt to head the Federal Housing Finance Agency. Watt was African-American and Senate Majority Leader Harry Reid and his minions repeatedly tried to associate the move with...
  • Mel Watt misused federal post, tried to ‘coerce’ worker into relationship, report says

    02/16/2019 10:11:09 AM PST · by Steely Tom · 15 replies
    Raleigh News & Observor ^ | 15 Feb 2019 | Brian Murphy
    Former federal housing agency director Mel Watt, who represented Charlotte in the U.S. Congress for more than two decades, misused his position to pursue a relationship with a woman working for him, according to a formal inquiry by the agency’s Inspector General. Watt was head of the Federal Housing Finance Agency, which currently oversees Fannie Mae and Freddie Mac, from 2014 through January when his five-year term expired. Simone Grimes, a special adviser at the agency, claimed that the 73-year-old Watt sexually harassed her and did not promote her when she declined his advances. Grimes also filed a pay discrimination...
  • Jamie Gorelick Knew What Team She Was On

    02/03/2018 8:07:09 AM PST · by Kaslin · 38 replies
    American Thinker.com ^ | February 3, 2018 | Jack Cashill
    One of the faux scandals to have emerged in this crazy past week was the revelation that in December, President Trump allegedly asked his deputy attorney general, Rod Rosenstein, “Are you on my team?” Opined a trio of reporters from CNN, presumably with a straight face, “The episode is the latest to come to light portraying a President whose inquiries sometimes cross a line that presidents traditionally have tried to avoid when dealing with the Justice Department, for which a measure of independence is key.” Obama White House speechwriter Ben Rhodes was not directly referencing these reporters when he told...
  • These Obama appointees could cause another housing collapse

    10/14/2017 8:56:32 PM PDT · by Oshkalaboomboom · 15 replies
    NY Post ^ | October 14, 2017 | Paul Sperry
    A pair of top Obama-appointed bank regulators still serving in the Trump administration could spark another mortgage meltdown by lowering credit standards and encouraging risky lending practices. Democrat Mel Watt, who is serving a special five-year term as head of the Federal Housing Finance Agency, is pushing the mortgage-lending giants he regulates — Fannie Mae and Freddie Mac — to offer home loans to deadbeat borrowers with shaky credit, setting up conditions for another housing-market crash, industry officials warn. Meanwhile, the other Obama holdover — liberal Democrat Richard Cordray, who continues to head the Consumer Financial Protection Bureau through 2018...
  • Fannie-Freddie Might Need $100 Billion in New Crisis, FHFA Says

    08/09/2017 3:06:24 PM PDT · by Lorianne · 20 replies
    source content cannot be posted due to copyright issues | 07 August 2017 | Joe Light
    see link in post below
  • Obama Looted Fannie Mae and Freddie Mac

    07/29/2017 7:44:42 AM PDT · by Kaslin · 41 replies
    American Thinker.com ^ | July 29, 2017 | Brian McNicoll
    President Obama never was shy about using his phone and pen to achieve what he could not get from Congress on regulatory matters. But documents revealed last week show the Obama administration may have been willing to get around congressional decisions on spending by using a slush fund of sorts funded by the profits of Freddie Mac and Fannie Mae, the two government-sponsored home loan giants. Fannie and Freddie are federally chartered enterprises which buy mortgage loans from banks and bundle them into securities that are sold to investors, thus freeing up capital so that banks can make more home...
  • Freddie Mac Going 'Anti-Home Owner' by Investing in Rental...

    07/25/2017 8:13:13 AM PDT · by LRoggy · 11 replies
    CNBC.Com ^ | 7/24/17 | CNBC Interview
    This is the video of an interview after the close on CNBC by Kelly Evans of Dick Bove and Josh Rosner on the NYT story by Gretchen Morgenson that showed the Obama Administration changed the agreement between the US Government and Fannie Mae and Freddie Mac by fiat ruling. Play the video at the link. If you think this isn't worth it, just note that the video has been buried off their front page . . . since it slaps the Obama people right in the face and heaven forbid that happens on an NBC property.
  • Fannie Mae Introduces Innovative Solutions for Borrowers with Student Loan Debt

    04/27/2017 8:33:12 PM PDT · by Lorianne · 13 replies
    Fannie Mae ^ | 25 April 2017 | Aleksandrs Rozens
    Fannie Mae (FNMA/OTC) announced new policies that will help more borrowers with student debt qualify for a home loan. These innovations address challenges and obstacles to homeownership due to a significant increase in student loan debt over the past decade and provide access to credit for qualified borrowers. The new solutions give homeowners the opportunity to pay down student debt with a mortgage refinance, allow borrowers to exclude non-mortgage debt paid by others as part of the loan application process, and make it more likely for borrowers with student debt to qualify for a mortgage loan by allowing lenders to...
  • Obamacare Implosion Now? Since Obama (Illegally) Siphoned GSE Dividends To Prop Up ...

    04/02/2017 12:16:31 AM PDT · by Zakeet · 42 replies
    ZeroHedge ^ | April 2, 2017
    Complete Headline: Obamacare Implosion Now? Since Obama Siphoned GSE Dividends To Prop Up, Can Trump Simply Halt 1st Qtr Sweep? Earlier this month, Harvard Ph.D. Jerome Corsi of InfoWars (@jerome_corsi) and a CPA "who worked for two years for a major U.S. accounting firm as an outside auditor for Freddie Mac," confirmed a 2012 scheme hatched by the Obama administration to funnel hundreds of billions in dividends from Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac to prop up the failing Obamacare program - by paying subsidies to insurers to remain in the system. [Snip] The conclusion reached by...
  • Investors in America's housing-finance giant lose in court (Fannie and Freddie)

    02/26/2017 6:24:16 PM PST · by Lorianne · 9 replies
    Economist ^ | 25 February 2017
    One unresolved issue from the financial crisis is the future of Fannie Mae and Freddie Mac, the two firms that stand behind much of America’s housing market. Fannie and Freddie purchase mortgages, bundle them into securities and sell them on to investors with a guarantee. When America’s housing market collapsed a decade ago, the government had to bail them out. Its treatment of the firms since then has created a titanic legal struggle. Shareholders have cried foul. On February 21st, a federal appeals court upheld a ruling in the government’s favour. At issue is the Obama administration’s decision in 2012...
  • Jared Kushner, Beware of Jamie Gorelick

    01/11/2017 4:21:31 AM PST · by Kaslin · 72 replies
    American Thinker ^ | January 11, 2017 | Jack Cashill
    More than a few of my Washington allies noticed a seemingly unremarkable bit of news in a Monday Washington Post article that they thought I ought to see. The article concerned Jared Kushner’s appointment as adviser to his father-in-law Donald Trump. The appointment did not trouble my friends. What troubled them was the Post’s casual mention that Kushner’s attorney was none other than Jamie Gorelick, deputy attorney general under President Bill Clinton. Observed the Post, Gorelick “is confident that the anti-nepotism statute does not cover Trump's appointment of Kushner.” Nepotism was the thrust of the article. The Post made no...
  • Hillary, Gorelick, and the Corruption of the TWA 800 Case

    09/21/2016 9:36:03 PM PDT · by Tours · 30 replies
    The Americanc Thinker ^ | July 5, 2016 | Jack Cahill
    As I was writing my new book on TWA Flight 800 --TWA 800: The Crash, The Cover-Up, The Conspiracy, now available wherever you buy books -- I wondered how Hillary Clinton’s success would affect the book’s. On the up side, if Hillary were nominated, the book would be more relevant as she was at the quiet center of the action. On the down side, her nomination would increase the odds that a protective major media would continue to ignore the great untold story of our time. The media run the risk of being the only adults who do not know...
  • Fannie, Freddie and the Secrets of a Bailout With No Exit

    05/21/2016 7:26:36 AM PDT · by Lorianne · 8 replies
    New York Times ^ | 20 May 2016 | Gretchen Morgenson
    When Washington took over the beleaguered mortgage giants Fannie Mae and Freddie Mac during the collapse of the housing market and the financial crisis of 2008, it was with the implicit promise that they would be returned to shareholders after being nursed back to health. But now, with the unsealing of documents this week that were produced as part of a lawsuit filed against the government, new evidence is coming to light on how intimately the White House was involved in the Treasury’s decision in August 2012 to keep all the companies’ profits for the government. That move effectively maintained...
  • Fannie Mae posts $1.1B profit in 1Q; paying $919M dividend

    05/05/2016 5:50:04 AM PDT · by Olog-hai · 3 replies
    Associated Press ^ | May 5, 2016 8:14 AM EDT
    Mortgage giant Fannie Mae posted net income of $1.1 billion for the first quarter, down from a year ago as declining interest rates reduced the value of the financial instruments it uses to hedge against rate swings. […] Washington-based Fannie is paying a dividend of $919 million to the U.S. Treasury next month. Fannie will then have paid a total $148.5 billion in dividends, exceeding the $116 billion it received from taxpayers during the financial crisis. …
  • U.S. Government Is Now a Major Counterparty to Wall Street Derivatives

    04/24/2016 7:43:59 PM PDT · by Lorianne · 19 replies
    Wall Street on Parade ^ | 21 April 2016 | Pam Martens and Russ Martens
    According to a study released by the Federal Reserve Bank of New York in March of last year, U.S. taxpayers have already injected $187.5 billion into Fannie Mae and Freddie Mac, two companies that prior to the 2008 financial crash traded on the New York Stock Exchange, had shareholders and their own Board of Directors while also receiving an implicit taxpayer guarantee on their debt. The U.S. government put the pair into conservatorship on September 6, 2008. The public has been led to believe that the $187.5 billion bailout of the pair was the full extent of the taxpayers’ tab....
  • Fannie and Freddie: REO inventory declined in Q4, Down 34% Year-over-year

    02/22/2016 8:38:10 AM PST · by Citizen Zed · 2 replies
    Calculated Risk Blog ^ | 2-21-2016 | Bill McBride
    Fannie Mae reported the number of REO declined to 57,253 at the end of 2015 compared to 87,063 at the end of 2014... Freddie Mac reported the number of REO (Real Estate Owned) declined to 17,004 at the end of 2015 compared to 25,768 at the end of 2014. REO inventory decreased in Q4 for both Fannie and Freddie, and combined inventory is down 34% year-over-year. For Freddie, this is the lowest level of REO since Q4 2007.  For Fannie, this is the lowest level since Q2 2008.
  • Fannie Mae at risk of needing a bailout

    02/20/2016 9:14:46 AM PST · by Lorianne · 17 replies
    CNBC ^ | 20 February 2016 | Barney Jopson
    Fannie Mae, the state-sponsored U.S. mortgage backer, is at risk of needing a government bailout that could shake confidence in the housing finance market, senior officials have warned. Fannie Mae's chief executive and its regulator are sounding the alarm on a decline in the institution's capital cushion, which is on course to vanish in 2018, when it would have to ask the US Treasury for emergency funds. Their warnings highlight Washington's inaction on housing policy and its failure to reform the institution, which guarantees nearly $3 trillion of securities and enables 30-year fixed rate loans, following the last financial crisis....