Fannie Mae-No Politics (FNMA)

[Donotunderstand]

YES

1. I assume presented to the board as crazy Dem idea with massive risk to F and F profit and

2. A give away to the poor - (they are always taking our money - not fair - is the cry -- if not immigrants it is the poor)

3. Turns out - the headlines are public relations for the left to enjoy --- but mislead

4. Risk to F and F is the back portion - (albeit lower income) at 75% and 80% not 97%-99% !!! HUGE DIFFERENCE from headline

5. And yes - my concern as a tax payer is ---- how can a lender afford that 2% gift ? Is their a hidden balloon? And if not ---- how can the lender make money if it uses up what little capital it has (as non bank) by giving it away . Seems some sort of bet the lender that is insanely risky or something is hidden

6. Summary - yes lower income but with PMI on 20% layered in as cost and ... and ... not sure how borrower wins and for sure how lender makes money ----- (PMI company kick back of higher than normal price to lender?) --- but F and F sit in the back and watch it all - as what F and F as equity companies did is market - with buyer beware (and tax payer beware of greedy lenders)