Replies to post #303743 on Fannie Mae-No Politics (FNMA)

[Zargis]

There isn't a reason to continue conservatorship, it's very definition details why.

Government oversight of the ENTIRE mortgage market I'm sure will be observed for some time, one way or another. Conservatorship does not prevent law and regulations or the FHFA from becoming a general market overseer.

Well, actually it does on the last one since they are so busy STEALING from the US citizens.

Be well,

-zargis

[IL Padrino]

What makes you trusting of the GSE's to do business lawfully without control/oversight from the U.S. Government?

You mean the same government that's lying and stealing from its people on just about every front?

[navycmdr]

that's because YOU and the general public are CLUELESS to what really took place

the GSE's have operated VERY PROFITABLY for decades until they were

forced by politicians to lower their standards to accept SUBPRIME loans from

the corrupt BANKS who completely and ILLEGALLY ABUSED the system ....

without the GSE's there WOULD NOT BE a 30 yr loan avail - BANKS won't hold the paper

Fannie Mae Forced To Buy Toxic MBS 40 billion Month

" Lawmakers, particularly Democrats, leaned on Fannie and Freddie to buy and hold those troubled debts, hoping that removing them from the system would help the economy recover. The companies, eager to regain market share and buy what they thought were undervalued loans, rushed to comply. "

http://www.valuewalk.com/2014/07/fannie-mae-forced-to-buy-toxic-mbs-40-billion-month/

[Mathan22]

"What makes you trusting of the GSE's to do business lawfully without control/oversight from the U.S. Government? "

Oversight and conservatorship are two separate things. FnF can continue to operate without conservatorship and still operate lawfully. It is because there are systems in place now like Dod Frank and CFPB. The conservator or FHFA is the one acting unlawfully by sending all the company profits to the U.S. General fund in lieu of building a capital reserve to protect America from any down turn.

[navycmdr]

Freddie Mac Helps Preserve Low-Income Rental Housing By Purchasing $215M Loan For Harbor Point In Boston

Last update: 19/06/2015 7:00:08 am



(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)

June 19, 2015 10:00 ET (14:00 GMT)

[obiterdictum]

What makes you trusting of the GSE's to do business lawfully without control/oversight from the U.S. Government?

Trust is not required. Once out of the conservatorship, the FHFA, the FHFA OIG, FSOC, CFPB, SEC, Congress and all of the existing regulatory agencies and perhaps new ones involved with the activities of the GSEs continue to monitor the status and condition of the GSEs. So the notion that there would be no control or oversight from the US Government is utterly mistaken and misleading.

The confidence in these organizations eluded to by shareholders couldn't be further from a representation of the true sentiment shared by that of the general public.

The general public is ignorant of the GSEs, the functioning of the secondary mortgage market, the activities of the US Treasury, FHFA and Congress. The general public is lead by the nose by a misinformed and biased media and the general hype promoted. Whatever lingering negative sentiment the general public has is due to ignorance and the continued spread of ignorance and bias.

Because they're profitable now we merely overlook the actions from the past decade, cross our fingers & hope they do right by the American people this time, and ship them out into the market alone?

It should be clear now that they will never be alone.

It should also be clear that the large banks and mortgage institutions sold tens of billions of dollars of bad mortgages to the GSE under false pretenses. Are not these egregious actions that are evidenced by the huge penalties handed down by the courts to every bank case brought by the FHFA, without exception, overlooked by the ignorant general public? Overlooked by Congress? Overlooked by the US Treasury? Overlooked by the White House? Overlooked all around? These very same banks did not enter conservatorships, were given bailouts on easy terms and were slapped on the wrist with cash settlements that suited them for committing illegal acts.

The U.S. Government can print money, they don't GSE cash. They're using their authority to prevent the secondary mortgage market from being swayed by conflict of interest which caused the corrupt state it was in leading up and into 2008, the same place most concede financial institutions remain to this day.

What conflict of interest? It has been made clear in the Financial Crisis Inquiry Report the factors involved in precipitating the financial crisis. Be informed and knowledgeable. Read the report.

THE FINANCIAL CRISIS INQUIRY REPORT
http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf