Fannie Mae-No Politics (FNMA)

[KELLYCO]

"As for their worth, they are no where near belly-up. See below:"

" As a result of this process, Freddie and Fannie have become gigantic. In terms of asset size, the four largest financial institutuions in America are: 1) Citigroup, $1.1 trillion in assets; 2) Fannie Mae, $822 billion in assets; 3) JP Morgan Chase, $720 billion in assets; and 4) Freddie Mac, $708 billion in assets. Thus Fannie and Freddie are two of the top 4 financial institutions in America. "

Very misleading.
What are these mysterious assets ?
Are they REO properties ?
Maybe securities that have not sold in the market place?

Either way it is investor money not Freddie's or Fannies.
The REO's are residuals from foreclosures and when liquidated must go to the appropriate investor.
Securities unsold were financed by the Federal Reserve and that money also must be returned upon liquidation.

So to think Fannie or Freddie is liquid is quite the stretch.

And as far as bundling mortgages goes.
These mortgage backed securities are nothing more than a smoke screen to hide true status of properties associated with mortgages.
In the 1920's some banks and other trusts used their lawyers names to transfer deeds and properties.
I have run into this wall while doing title research.
And the old way of registering deeds did not neccesarily list book and page of prior deeds.
So what happens is title examiner finds hundreds if not thousands of deeds recorded under a single person's name.