Fannie Mae (FNMA)

[Letgoofmyfannie]

Bill say to run 'em off, get new ones:

Read Bill Maloni's Blog Here: http://malonigse.blogspot.com

"" Corker and the GSEs

Nobody should be conned, fooled, swayed by the added Corker-Warner bull pucky with their new GSE bill, which reportedly will be introduced next year in the Senate.

Yes, it purports to keep the GSEs alive (remember, this %^$#@*& devil is in the details), but as bloodless husks until the new Guarantors also set up in the same legislation can have enough big bank and new Uncle Sam securities guarantees for bank issued MBS until Fannie and Freddie can easily be discarded.

Neither Corker nor Warner are looking for anything positive to happen to Fannie and Freddie and nobody should be fooled by any sweet words or conjectures of same.

It’s the same bank-centric model which has featured a handful of other similar ploys over the years.

Fannie and Freddie currently block those apostles of greed from treating borrowers unfairly, overcharging them, or otherwise abusing the mortgage process.

The anti-GSE schemers want the GSE dead or neutralized, ergo Corker-Warner, who would have killed Fannie and Freddie three years ago if the Senate Banking Committee Democrats and low income advocates hadn’t blown the whistle on them and their TBTF pals.

Anyone suggesting that Corker retiring or Jed Hensarling (R-Tex.) doing the same will be a boon for the GSEs, fuggadeaboutit.

My best advice to Fannie and Freddie fans, people who would like to see them as shareholder owned entities go forward, is vote against as many House and Senate incumbents as you can in hopes that a new crew coming in after next year’s elections will be less biased and more open to the real GSE history and success.

Ask anyone running for federal office their position of on this matter and vote accordingly, especially against any incumbent who will blunder and tell you they support the nation’s largest banks over the safety, soundness, efficiency, fairness, and innovation of the GSEs.

The Senate and House has a lot of slugs. The people of Alabama did heroic work last week in squashing one of them. Many of those votes against Roy Moore and for Doug Jones were cast by women with children, who also are part of households which own homes or aspire to do so.

Just as they did in supporting Jones over Moore—to support their own best interests--we all need to inquire more, educate more, do more and make sure everyone who seeks a congressional seat knows about Fannie Mae and Freddie Mac, since chances are the next Congress will have to vote on their futures.

Merry Christmas and have a healthy and happy holiday and new year. ""