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U.S. Representative Ed Royce (R-CA) wants you to comment on this statement .....
"Contrary to what Fannie and Freddie apologists claim, the GSEs have yet to repay any of the taxpayer-funded bailout funds they received, which makes today's announcement by the FHFA outrageous. Money coming in from the GSEs should go to the taxpayers instead of a slush fund for ideological housing groups to play around with.”
Get over there now and tell em what you think and where the buck stops!!
http://royce.house.gov/news/documentsingle.aspx?DocumentID=397595#Comments
CBO: Transitioning to Alternative Structures for Housing Finance
Just picked this up from David Fiderer’s twitter ….
http://investorsunite.org/discussion/topic/transitioning-to-alternative-structures-for-housing-finance/
CONGRESS OF THE UNITED STATES
CONGRESSIONAL BUDGET OFFICE
CBO
Transitioning to
Alternative
Structures for
Housing Finance
“This report examines various mechanisms that policymakers
could use to attract more private capital to the
secondary mortgage market. The report also addresses
how those mechanisms could be combined in different
ways to help the market make the transition to a new
structure during the coming decade. CBO analyzed transition
paths to four alternative structures that involve
choices about whether the government would continue
to guarantee payment on mortgages and MBSs and, if so,
what form and prices those guarantees would have.2
Under those different structures, the government’s activities
would range from providing full or partial guarantees
for a large share of the mortgage market to playing a minimal
role in a largely private market (except perhaps during
a financial crisis). Any transition to a new type of secondary
market would also require decisions about what
to do with the existing operations, guarantee obligations,
and investment holdings of Fannie Mae and Freddie
Mac.”
Fannie Mae: Former Staffer Behind FMIC Goes To BlackRock
"seems to confirm people’s worst fears about the revolving door between Washington D.C. and private interests." .....
Good thing they be reform'n them two .... wouldn't want Fannie or Freddie catch'n something in that revolving door .... that would mean the taxpayers would have to pick up the doctors tab .....
http://www.valuewalk.com/2014/09/fannie-mae-former-staffer-behind-fmic-goes-to-blackrock/
Fannie Mae: Former Staffer Behind FMIC Goes To BlackRock
Posted By: Michael IdePosted date: September 10, 2014 03:52:31 PMIn: Business5 Comments
You may remember there was a bit of controversy last April when it came out that the Corker-Warner bill to replace Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) with a new government agency was largely written by former Countrywide Financial exec Michael Bright, now working as Senator Bob Corker’s senior financial advisor. Corker-Warner has since morphed into Crapo-Johnson, which kept the same basic framework in place, but critics still argue that Crapo-Johnson’s proposed FMIC would benefit Wall Street at the expense of smaller banks and homeowners.
BlackRock
Crapo-Johnson may be stalled in a deadlocked Congress, but Bright is on the move, taking a new position at BlackRock, Inc. (NYSE:BLK). Politico reports that Bright won’t be on BlackRock’s government relations team, but a leaked email gives a different impression.
“I recently began work with BlackRock in their financial markets advisers unit within BlackRock Solutions,” Bright wrote in the email, reports Alana Goodman at the Washington Free Beacon. “I will be splitting time between N.Y. and D.C., but mainly housed in the D.C. office, so I hope to see you all soon.”
Bright’s former employer was a major player in the subprime crisis
Before he became a Senate staffer, Bright worked as a mortgage trader at Countrywide Financial from 2002 – 2006 and then was in charge of TBA and TBA options trading at Wachovia from 2006 – 2008, which had to be acquired by Bank of America Corp (NYSE:BAC) and Wells Fargo & Co (NYSE:WFC) respectively to avoid simply going under during the financial crisis. Countrywide Financial in particular was heavily involved in the subprime trading that led to the crisis and was found guilty of defrauding Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA), and Bank of America has recently agreed to a record $16.6 billion settlement with the Department of Justice covering defective RMBS sold by Merrill Lynch and Countrywide.
BlackRock: Revolving door between politics and finance raises doubts
Bright has never been accused of any wrongdoing, but for him to move from the heart of the subprime crisis to an important government position, influencing the future of the US mortgage market is jarring. For him to take a job with BlackRock, Inc. (NYSE:BLK), who lobbied Senators Corker and Mark Warner during the process, seems to confirm people’s worst fears about the revolving door between Washington D.C. and private interests.
And if Bright decides that he prefers to work in the public sector after all, perhaps he can follow BlackRock, Inc. (NYSE:BLK)’s former managing director of financial markets advisory and relationship management John Nichols, currently the chief risk officer at Fannie Mae.
Your very welcome just passing it along I found it through the Bill Maloni blog ....
"a lot of constituents pi$$ed about his knowledge on that subject."
Well he's getting some schooling now .... isn't he
thanks mike I was able to fix it !
U.S. Representative Ed Royce (R-CA) wants you to comment on this statement .....
"Contrary to what Fannie and Freddie apologists claim, the GSEs have yet to repay any of the taxpayer-funded bailout funds they received, which makes today's announcement by the FHFA outrageous. Money coming in from the GSEs should go to the taxpayers instead of a slush fund for ideological housing groups to play around with.”
Get over there now and tell em what you think and where the buck stops!!
http://royce.house.gov/news/documentsingle.aspx?DocumentID=397595#Comments
From th717 ... The Letter ....
"As you are aware, the GSEs are currently mandated to remit 100 percent of their
profits under the current terms of the PSPAs, which precludes building capital. To
date, Treasury has been more than repaid the $190 billion in advances. The GSEs
have paid the Treasury a total of $220 billion and must continue to remit all profits.
They are on track to be the most lucrative of all 2008 Treasury interventions in the
financial sector.
The relatively new GSE financial viability seems to be benefitting the Treasury at the
expense of low- and moderate-income borrowers who simply cannot afford the high
GSE guaranty fees. Together, Fannie Mae and Freddie Mac have normalized net
earnings at approximately $20-to-$25 billion a year. Nevertheless, Treasury
continues to collect quarterly profits at levels never imagined under the initial PSPA."
December 10, 2014
The Honorable Jacob Lew
Secretary of the Treasury
1500 Pennsylvania Ave. NW
Washington, DC 20220
The Honorable Melvin L. Watt
Director, Federal Housing Finance Agency
400 7th Street, S.W., Ninth Floor
Washington, D.C. 20024
Dear Secretary Lew and Director Watt:
The Community Mortgage Lenders of America (CMLA) request that you immediately
open negotiations to restructure the payment terms embedded in the Preferred
Stock Purchase Agreements (PSPAs) between the Federal National Mortgage
Association and the Federal Home Loan Mortgage Corporation (collectively, the
“GSEs”) and the U.S. Department of the Treasury (“Treasury”). This would enable
the GSEs to retain more of their net earnings and re-build their currently
inadequate capital positions.
As you are aware, the GSEs are currently mandated to remit 100 percent of their
profits under the current terms of the PSPAs, which precludes building capital. To
date, Treasury has been more than repaid the $190 billion in advances. The GSEs
have paid the Treasury a total of $220 billion and must continue to remit all profits.
They are on track to be the most lucrative of all 2008 Treasury interventions in the
financial sector.
The relatively new GSE financial viability seems to be benefitting the Treasury at the
expense of low- and moderate-income borrowers who simply cannot afford the high
GSE guaranty fees. Together, Fannie Mae and Freddie Mac have normalized net
earnings at approximately $20-to-$25 billion a year. Nevertheless, Treasury
continues to collect quarterly profits at levels never imagined under the initial PSPA.
The CMLA believes you can – and should – take immediate corrective action to cure
the undercapitalization of the GSEs. There is neither a need nor a rational reason to
wait on Congress to act, particularly since GSE reform legislation is far from certain.
PRESERVING FAIR STANDARDS FOR COMMUNITY LENDERS2
Taking decisive action now to recapitalize the GSEs will restore their ability to
withstand even a moderate downturn.
The current GSE repayment terms create the undesirable combination of record
high guaranty fees and unsafe low levels of GSE capital. These high fees are
effectively pricing otherwise credit worthy borrowers out of the market. That is in
direct contradiction of the original GSE mission – to boost homeownership by
creating greater liquidity in the secondary market.
At the same time, the vast majority of the fee revenue is being passed onto the U.S.
Treasury, leaving the GSEs undercapitalized. By comparison, the FHA Mortgage
Insurance Program has been rebuilding the financial stability of the Mutual
Mortgage Insurance Fund by a doubling of the mortgage insurance premiums
charged to borrowers over the past several years. While this action has priced some
borrowers out of the market, the Mutual Mortgage Insurance Fund is well on its way
to financial stability and an adequate capital level. In contrast, the currently high
GSE fees are pricing a segment of borrowers out of the market, yet the GSEs remain
undercapitalized and vulnerable to adverse financial developments. Were such
developments to occur, the GSEs would be forced to return to the US Treasury for
additional financial assistance. We fail to see how such a development would benefit
either the housing and mortgage markets or the consumers they serve.
The alternative, and the less preferable, approach is to lower the GSE guaranty fees.
This would at least remove an unnecessary tax locking so many homebuyers out of
the market by these record high GSE fees.
The CMLA represents mid-sized and small community-based residential mortgage
lenders, both banks and non-banks. Our members make the loans that enable
American consumers to realize their homeownership aspirations. The expansion of
home ownership made possible by CMLA members strengthens communities
nationwide. The continued realization of those homeownership aspirations will only
be possible with a stable, secure source of funding for residential mortgages. Hence,
this gives rise to the need for the GSEs to be financially viable on their own, rather
than completely depending upon subsidies from the US Treasury.
The GSEs financial health historically furthered homeownership rates and there is
no rationale for risking their ability to do so now. We urge you take immediate
corrective action to enable full and safe capitalization of each GSE – American
homebuyers deserve no less.
Sincerely,
Paulina McGrath
CMLA Chair
The Community Mortgage Lenders of America (CMLA): No Sense in Keeping the GSEs Undercapitalized
http://www.prnewswire.com/news-releases/no-sense-in-keeping-the-gses-undercapitalized-300009444.html
No Sense in Keeping the GSEs Undercapitalized
WASHINGTON, Dec. 15, 2014 /PRNewswire/ -- The Community Mortgage Lenders of America (CMLA) today called on Treasury Secretary Jack Lew and chief GSE regulator Mel Watt to take immediate action to cure the under-capitalization of both the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (GSEs).
In a December 10, 2014 letter to the Federal Housing Finance Agency Director and the U.S. Treasury Secretary, the CMLA requested they immediately restructure the payment terms embedded in the Preferred Stock Purchase Agreements (PSPAs) to enable the GSEs to retain more of their net earnings and re-build their currently insufficient capital positions.
CMLA Chair Paulina McGrath noted there is no point in keeping GSE guaranty fees at today's historically high levels to generate large profits, if those same profits do not make the GSEs more financially stable. "Making mortgage money more expensive is simply locking many borrowers out of the market and serves no benefit to the GSEs. Renegotiating the PSPA now is a common sense approach to ensuring the safety and soundness of the GSEs."
The GSEs financial resurrection seems to be benefitting the U.S. Treasury at the expense of low- and moderate-income borrowers who simply cannot afford the high GSE fees. Collectively, the GSEs have normalized net earnings at approximately $20-to-$25 billiona year. Nevertheless, Treasury continues to collect quarterly profits at levels never imagined under the initial PSPA.
The vast majority of the GSE fee revenue is being passed onto the U.S. Treasury, leaving current GSE capital levels far too low to address the risk of even a moderate downturn. This undercapitalization leaves the GSEs dependent upon the US Treasury for additional assistance in the event of adverse financial developments. Such a situation benefits neither the mortgage and housing markets, nor the consumers they serve.
This irrational situation is created by the terms of the GSE payment agreement with the U.S. Treasury in exchange for the $190 billionGSE bailout. Currently, the GSEs must remit 100 percent of profits, which precludes building capital. To date, Treasury has been more than repaid. GSEs have paid a total of $220 billion and must continue to remit all profits. They are on track to be the most lucrative of all 2008 Treasury interventions in the financial sector.
Treasury can - and should - take immediate corrective action to cure the undercapitalization of the GSEs. There is neither a need nor a rational reason to wait on Congress to act, particularly since GSE reform legislation is far from certain.
"Mortgage bankers have now joined the Civil Rights groups and community banks in asking for this important, common-sense change," McGrath said.
The alternative, and the less preferable, approach is to lower the GSE guaranty fees. This would at least remove an unnecessary tax locking so many homebuyers out of the market.
CMLA urges a more rational approach to supporting the U.S. housing market. The GSEs financial health historically furthered homeownership rates and there is no rationale for risking their ability to do so now. Surely, the Treasury and Congress are equally dedicated to precluding another financial crisis. This obvious structural weakness should never have materialized within the GSEs and it is incumbent upon this Administration to take the corrective action necessary to enable full and safe capitalization of each GSE. The CMLA urges the Administration to modify the PSPA as soon as possible - American homebuyers deserve no less.
About the CMLA
CMLA is the only trade association solely dedicated to advocating for independent, community-based residential mortgage lenders.Founded in 2009, The CMLA is committed to the preservation of a thriving independent mortgage lending sector, which increases competition in the industry and, thus, provides borrowers with greater choice and lower costs. The CMLA membership includes lenders nationwide that, collectively, originate more than $100 billion worth of residential mortgage loans annually. The CMLA works to ensure the interests of its members are effectively represented before members of Congress, Federal regulators and the Executive branch.
Mo Bill
Last Blog on 2014(?); Will Be Wordy
Advice to WH and Mel Watt
malonigse.blogspot.com/
new Bill Maloni Up ...
Monday, December 8, 2014
Pre-Christmas Thin Gruel
More “Deuces” than Just Court Cases
malonigse.blogspot.com/
new Bill Maloni Up ...
Monday, December 8, 2014
Pre-Christmas Thin Gruel
More “Deuces” than Just Court Cases
malonigse.blogspot.com/
perfect!! did you see the petition ... please sign it if you haven't
http://petitions.moveon.org/sign/correcting-mistakes-fannie/?source=search
they simply need to be able to retain profits to rebuild capital so they stand on their own
"There is growing consensus among industry experts and lawmakers alike that the conservatorship of Fannie and Freddie must end. For instance, Sens. Tim Johnson and Elizabeth Warren, who were on opposite sides of legislative reform efforts, have both said the conservatorship was never meant to be a long-term solution, and an exit plan for the companies must be developed."
Thanks and read all about it here ....
investorsunite dot org/discussion/topic/conservatorship-hurts-the-american-housing-market
Repeal the "Sweep Agreement" and end the Conservatorship!
A friendly remainder to all ….. Please sign the petition if you haven’t already …
petitions dot moveon dot org/sign/correcting-mistakes-fannie?source=s.fwd&r_by=11568622
Also please join Investors Unite ..... very quick you can be in and out in a shake !
investorsunite dot org
Sign the petition and join IU .... it's fast .. easy ... and best of all it's free!
Mo DC Bill ...
http://malonigse.blogspot.com/
Please Join Ivestors Unite ....
If you are already a member please give a shout out...
If you are a share holder and haven't yet joined please ....
Join!!
signed and thanks!
petitions dot moveon dot org/sign/correcting-mistakes-fannie?source=s.fwd&r_by=11568622
Please Sign
Fresh from the google group ...
Looks like FHFA has added content to the website. Interesting to read over some of the public input regarding the CSP. Link below, see bottom of page.
http://www.fhfa.gov/PolicyProgramsResearch/Policy/Pages/Securitization-Infrasturcture.aspx
Investors Unite Capitol Hill Summit in Washington, D.C.
November 26, 2014
Good Afternoon, Investors!
It’s once again the time of year that we stop to appreciate all that we have to be thankful for. I hope that each and every one of you will have the opportunity to spend time with family, friends, and loved ones as you celebrate Thanksgiving.
In the spirit of the season, I wanted to take a moment to thank you, our nearly 1,300 members, for making this year so special and exciting. We are diverse group, from a wide range of backgrounds and experiences, spread all across the country. That we have been able to come together in such a short time to form a united front for shareholder rights is truly remarkable, and a testament to the passion and drive of our membership. Your commitment to the cause continues to astound.
That is why I wanted to extend a special invitation to our committed members to attend our upcoming Investors Unite Capitol Hill Summit, which will take place on Tuesday, January 13th – Wednesday, January 14th in Washington, D.C. This will be an excellent opportunity for our members to come together in person, and take our message directly to Congress through organized events and meetings with legislators. Efforts like these are the best way to drive home to lawmakers that their constituents expect and demand the restoration of their rights.
For those interested in attending, please complete this short form so that we can determine who will be able to make time to attend the summit. Once you complete the survey, we will be in touch with further details in the coming days.
Again, I’d like to thank you all again for making Investors Unite what it is today and paving the way for what will grow to be. Together we can ensure that shareholders rights are respected.
Happy Thanksgiving!
Tim Pagliara
http://investorsunite.org/investors-unite-capitol-hill-summit-in-washington-d-c/
Playing Hot Potato With Fannie, Freddie
http://investorsunite.org/discussion/topic/playing-hot-potato-with-fannie-freddie/
FHFA Won’t Rule Out Ending Fannie, Freddie Oversight Without Congress
After the hearing, he told reporters that any effort by federal authorities to end the conservatorship would need to be begun by the Treasury Department. “It’s something that would have to be initiated by Treasury, not by me,” Mr. Watt said. “In the short term I would rule it out, in the long term, I might not rule it out.”
http://online.wsj.com/articles/senator-calls-for-fhfa-to-end-fannie-freddie-conservatorship-1416411254
Director Melvin Watt Says Process Would Have to Be Initiated by Treasury Department
By JOE LIGHT
A top housing regulator on Wednesday wouldn’t rule out the possibility that the federal government would end its conservatorship of mortgage-finance companies Fannie Mae and Freddie Mac if Congress doesn’t do so.
Federal Housing Finance Agency Director Melvin Watt said during a hearing of the Senate Banking Committee on Wednesday that overhauling the housing-finance system should be left to Congress. He expressed hesitation at giving his own thoughts on how Congress should proceed.
After the hearing, he told reporters that any effort by federal authorities to end the conservatorship would need to be begun by the Treasury Department. “It’s something that would have to be initiated by Treasury, not by me,” Mr. Watt said. “In the short term I would rule it out, in the long term, I might not rule it out.”
A Treasury spokesman didn’t immediately respond to a request for comment.
Fannie Mae and Freddie Mac were placed in conservatorship by the U.S. government in 2008 after the housing crisis precipitated massive losses at the two companies. The government provided Fannie and Freddie with nearly $188 billion in aid. Now, nearly all of the companies’ profits are swept to the U.S. Treasury.
Mr. Watt’s comments came after Sen. Tim Johnson (D., S.D.) in his opening remarks called on him to “engage with the Treasury Department in talks to end the conservatorship” of Fannie and Freddie if Congress doesn’t proceed.
Mr. Johnson, who chairs the banking committee, sponsored legislation that would overhaul the housing-finance system. That bipartisan bill passed the committee in May but garnered only limited support and didn’t proceed to the Senate floor. Some Democrats have said the proposal didn’t go far enough to promote affordable housing. Mr. Johnson is retiring this year.
Mr. Watt said during the hearing that he believes Congress should be responsible for housing-finance reform. “Conservatorship cannot and should not be a permanent state. The role of Congress is to define what the future state is,” he said.
‘Conservatorship cannot and should not be a permanent state. The role of Congress is to define what the future state is.’
—Federal Housing Finance Agency Director Melvin Watt, during a hearing of the Senate Banking Committee on Wednesday.
Sen. Johnson’s comments come as the likelihood of Congress tackling housing-finance reform dwindles, despite calls from the Obama administration and others for Congress to act. Last week, Julián Castro, the secretary of the Department of Housing and Urban Development, at a conference urged lawmakers to “get housing finance reform done, once and for all.”
At the hearing, Sen. Mike Crapo (R., Idaho), who co-sponsored the legislation with Mr. Johnson, said the “ultimate goal of enacting legislation is not going to be achieved in this Congress.”
“My largest concern is…the perception that the old status quo is starting to take hold again,” he continued. Mr. Crapo said that Mr. Watt’s role should be to be as a bridge until congressional action, a statement with which Mr. Watt said he agreed.
During the hearing, senators questioned Mr. Watt on a range of issues under the FHFA’s purview, including about how the agency planned to change the mortgage fees charged by Fannie and Freddie and whether or not Mr. Watt considered allowing the agencies to reduce the mortgage principal of borrowers who owe more than their homes are worth.
Mr. Watt said he expected to make a decision on the fees in the first quarter of next year. He said that deciding whether and how to allow principal reduction was “the most difficult issue that I’ve faced as director.”
In response to a question from Sen. Dean Heller (R, Nev.) on how Mr. Watt thought Congress should change the housing finance system, Mr. Watt said, “It is Congress’ role to tell us what the future of [Fannie and Freddie] reform is...If the committee is expecting me to have a position on what the future of housing [Fannie and Freddie] reform should be, it will be sorely disappointed.”
Mo Bill .... Good Stuff!
http://malonigse.blogspot.com/
Sweet !!!
Investors Unite is tweeting on the Carney smack down!
Get over to Investors Unite and Join if you haven't yet !!!
then follow them on twitter @_InvestorsUnite
They are tweeting the CRT event as we speak!
Fairholme Exits Fannie-Freddie Common, Limits Disclosures
http://www.bloomberg.com/news/2014-11-14/fairholme-exits-fannie-freddie-common-limits-disclosures.html
Bruce Berkowitz’s Fairholme Capital Management LLC exited its common-stock investments in Fannie Mae and Freddie Mac in the third quarter, while limiting disclosures about preferred stakes in the U.S. mortgage-finance companies.
The investment firm opted to stop disclosing preferred stakes because U.S. Securities and Exchange Commission rules don’t require them to be listed, the firm said in today’s Form 13F filing.
Fairholme’s investments in Fannie Mae and Freddie Mac were concentrated in the preferred securities, previous filings show. Investments in the firms accounted for about 15 percent of the portfolio at Berkowitz’s main Fairholme Fund, according to a July 29 letter.
Investors in Fannie Mae and Freddie Mac suffered losses after losing a legal bid to force the bailed-out companies to share profits with private holders. The $7.85 billion Fairholme Fund fell 5.7 percent in the third quarter, its worst decline since 2011.
“We remain steadfast in our belief that -- at a minimum –- shareholders are due just compensation,” Berkowitz said in a letter to investors dated Oct. 1 about the Fannie-Freddie stake. “We will continue to pursue our legal rights.”
Fannie Mae common shares lost 31 percent in the quarter to $2.69, while Freddie Mac common stock declined 32 percent to $2.64.
Berkowitz’s Miami-based firm also exited a stake in Genworth Financial Inc. (GNW) in the third quarter, today’s filing shows, sidestepping a November plunge in the insurer’s shares. Fairholme owned about 1.1 million Genworth shares at the end of June.
Money managers who oversee more than $100 million in equities in the U.S. must file a Form 13F within 45 days of each quarter’s end to list those stocks as well as options and convertible bonds. The filings don’t show non-U.S. securities, holdings that aren’t publicly traded, or cash.
Judge Sweeney Should Let Discovery Continue on Fannie and Freddie
Richard Epstein
http://www.forbes.com/sites/richardepstein/2014/11/01/judge-sweeney-should-let-discovery-continue-on-fannie-and-freddie/
Civil Rights And Shareholders Groups Ask For FHFA Action
Check out David Sims latest on SA ... Great stuff!!
http://seekingalpha.com/article/2612545-civil-rights-and-shareholders-groups-ask-for-fhfa-action
@ Letgo
I'm digg'n the chick wit da squeeze box! ....
Simply sign your name and "let us do the rest." What could go wrong?
You have to view the page to see the ad ... a pix is worth ....
http://www.businessinsider.com/jp-morgan-chase-ad-from-2005
Guilty As Charged: Chase Mortgage Ad From 2005 Proves Subprime Culpability
JOHN CARNEY
OCT. 14, 2009, 10:03 AM 1,577 2
This morning Joe Nocera demonstrated that the biggest bankers were very much involved in the worst elements of the subprime mortgage mess.
Nocera supplied a big bunch of documents that JP Morgan Chase sent out to mortgage brokers promoting no-doc home loans and other dodgy subprime practices.
Here's some more evidence of the culpability of big banks. This advertisement from "Home & Land," a Monmouth County, New Jersey real estate promotional magazine from the summer of 2005 shows just how loose lending practices became towards the end of the boom. Apparently, Chase's 'Simply Signature' mortgage program involved very little beyond just signing up for a mortgages.
This is so bad it's almost entertaining. It's good to keep this kind of thing in mind whenever someone tells you that only non-bank mortgage lenders were engaging in the worst kind of home lending during the boom. The banks were certainly very deeply involved in this practice.
Reminder to one and all:
Here is the call in info for Clifford Rossi's presentation at the Pagliara conference, today (Wednesday).
WHEN: Wednesday, October 29, 2014; 3:00 PM EDT
DIAL: Toll Free: 866-952-1908; Toll: 785-424-1827
Conference ID: IU
NOTE: Please RSVP to info@investorsunite.com
Let's just pray that the powers that be will start to take this very seriously .... as in spend the coin ... like they say ya can't take it with ya .....
From NPR
A Frightening Curve: How Fast Is The Ebola Outbreak Growing?
http://www.npr.org/blogs/goatsandsoda/2014/09/18/349341606/why-the-math-of-the-ebola-epidemic-is-so-scary
Yes maybe more than slightly ... but that's ok with me and interesting none the less ... thanks
If you haven't already ...Don't forget to contact your representatives. Just takes a second .....
http://investorsunite.org/take-action/
Take Action @ Investors Unite!
Let your representatives know any reform of Fannie Mae or Freddie Mac must include the protection of shareholder rights. Just takes a few seconds, fill out form letter and it automatically goes out to members of the Senate Banking Committee as well as your Federal elected officials.
http://investorsunite.org/take-action/
“As Investors Unite Executive Director Tim Pagliara likes to say, there’s only one kind of institution that repays a $187.5 billion loan at 10 percent interest in under four years: the kind that didn’t need it in the first place.”
Thanks CBS! .... I'm gonna push this over to the g-group and th717 ...
Fannie Mae: Judge Sweeney Wants Discovery On Whether FHFA Was Directed To Enter The Sweep Amendment
by: Charlie Harrison
http://seekingalpha.com/article/2538485-fannie-mae-round-one-to-the-government#comments_header
nice to know for every John Carney we have a Charlie Harrison who wrote the article above ....
follow the comments by robros in an earlier (great!)article ... they are the basis for the above article ....
Fannie Mae: Round One To The Government
http://seekingalpha.com/article/2538485-fannie-mae-round-one-to-the-government#comments_header
So this group is sorta .. your own personal charity and kinda like an episode of apprentice all rolled into one! .... cool !
Can I watch too .....
"You should leave these type trades to us big boys that do this stuff for a living."
Is that why your here joe .... you and the "big boys" .... here to make your living ... how does that work ...
send her my love and tell her I owe her more than she could ever know ...
peace brother ....
Yes but .... you had membrs in your corner too ... :)
Mo Bill ...
Tuesday, September 2, 2014
More Mortgage Activity When Congress Soon Reconvenes
http://malonigse.blogspot.com/