Replies to post #203575 on Fannie Mae-No Politics (FNMA)

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Your right and he should go to jail for this!
What a psychopathic a hole. ..

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Temporary Increase in the GSE Conforming Loan Limits

The recent upheaval in global credit markets has led to a significant lack of liquidity throughout the mortgage industry. One exception is the segment of loans that are eligible for purchase by Fannie Mae and Freddie Mac (the GSEs). The GSEs are able to facilitate a continuous and efficient flow of capital, benefitting lenders and, ultimately, borrowers.
However, borrowers seeking to purchase or refinance homes that fall outside of the GSEs' eligibility requirements have had to bear the brunt of the liquidity crisis, as the lack of a properly functioning secondary market for nonconforming mortgages has led to either much higher lending rates or no financing options whatsoever for some borrowers.

It is against that backdrop that Congress decided to temporarily increase the GSE conforming loan limits as part of the Economic Stimulus Act of 2008, an MBA supported policy. While the temporary increase of GSE conforming loan limits is positive legislation, MBA continues to believe that enactment of GSE oversight reform legislation is important to restoring confidence in the mortgage market and ensuring its health in the future.

Under the Economic Stimulus Act of 2008, the increased loan limits apply for GSE mortgages originated from July 1, 2007 through December 31, 2008, which may be purchased by the GSEs anytime during their mortgage terms.

http://www.mbaa.org/Advocacy/IssuePapers/TemporaryIncreaseInGSEConformingLoanLimits.htm

Lockhart action as conservator was completely illegal because he
increased loan limit of GSEs
Lockhart action as conservator was completely illegal because he increased loan limit of GSEs so that he can move $400B subprime mortgage from WS banks to GSEs. That's completely wrong. You donot conserve company by buying bad assets. He will be asked under oath why did you move bad assets into GSEs. He is in big trouble.
The government should not get any dividend or warrants because government was using GSEs to clean mess created by WS banks. I am surprised why these questions were not being asked to congressmen and senators.

IMO in light of the bashing, and nefarious new blurbs---they are trying to scare us out---WE WILL WIN--HOLD