Replies to post #281177 on Fannie Mae-No Politics (FNMA)

[PGA3]

Good! Glad you did it. The press isn't asking the tough questions.

[955]

Excellent first hand experience that our officials at the top need to hear. Why aren't they knocking at your door inviting you to SOTU, FSC (Financial Services Committee), etc. to tell what really happened?

This time I've written to Mel Watt, Jack Lew, and Mr. Obama. Since DeMarco and Geithner got us into the sweep I figure Watt and Lew can get us out. Call it "holly logic"

This is reality on the housing crisis from what I've seen around me everyday.
I have owned several homes, I bought a home in 1986, I had the same job for 6 years, I had my income, employment, bank records and tax records all confirmed before I qualified for the mortgage. In 1993 I bought a home, now I had the same job for 13 years, again my income, employment, bank and tax records all verified. Again it's 1998, now I've had the same job for 18 years, same process though, bank records, tax returns, income, employment and now credit score. Let's fast forward to June 2005, I need a home equity line of credit and call my mortgage company Citibank. Imagine my astonishment when they appraise my home over the phone and offer me $400,000!!! I needed $75,000 and that's what I borrowed. Had I done what so many others in my neighborhood had done, taken the money and bought toys, cars, clothes, ETC ETC I now would not have my home today, most of these people don't. The crisis was not caused by Fannie Mae and Freddie Mac but by greedy banks willing to give a loan to anyone who had a pulse. It is unconstitutional to confiscate private property (Fannie & Freddie) This is a publicly traded company and needs be be released from conservatorship now. Without them the American Dream of home ownership will cease to exist, no bank will ever carry a mortgage for 30 years .

[HaloHat]

Holly I appreciate and would like to thank you for the time and thought you made in writing your letters. Everyone with an interest in FnF being released, the sweep halted and relisted should be doing the same at every opportunity.

Here is what I sent Senator Toomey, who appears to be supportive of shareholders rights. I don't live in PA. however I want those supportive of shareholders to know they are appreciated and those who are not supportive of us to know we are watching, active and vocal.
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Hello,

I just read a message at this website where Senator Toomey is the subject. I would like to thank Senator Toomey for his comprehension of this complicated and important matter.

https://groups.google.com/forum/#!topic/freddienfannie/gWBlikGADJY

I would also like to offer Senator Toomey and his staff the following document. It validity has been verified by its author, the former CFO of one of the subject GSE's.

http://www.scribd.com/doc/252822489/Treasury-and-Conservatorship-by-Timothy-Howard-Jan-11-2015#scribd

Please do what you can to keep investors rights, the law and our future housing and investing issues above board and able to withstand the light of truth.

Sincerely,

Investor, Realtor, Taxpayer, Voter.

ps - My family immigrated to the USA in the early 1900's to Johnstown,PA. My great grandmother died saving people in the Johnstown flood. I have strong ties to PA.!