Replies to post #116577 on Fannie Mae-No Politics (FNMA)

[fink]

That guy is full of crap!

All good words but empty article. It put nothing forward. Just bravado.
Sounds like a politician. Cash in on a perceived crisis.

What many fail to see, the mortgages FnF aquire are far superior than the junk forced on then in the 1990's under Clinton's two terms.
Only the highest credit rated person are able to get a loan that make onto Fnf's books.

The scumb has been flushed. It's a good system if the market is allowed to do what it's supposed too.
Good luck getting a home loan with 2 kids single and working a Burger King. Those days are over with. They had their shot.
No loans are just pushed down to FnF. I'm telling y'all, the loans are actually being looked at Underwritting is for real, its no longer a paper pushing job.

[GreenWizard]

F!@#K Hensarling Bill.
It suggests abolishing fixed 30 year mortgage rate. There will be no fixed 30 year mortgage and it will be replaced by variable rate mortgage.
It will be DOA. Gonna never hit the senate floor.
Long live FnF.

[Blushing green]

republican news from a republican state

[Bouray00]

The major problem with the PATH act is, how are you going to limit government control, and at the same time find someone to pony up the billions to take the first hickey if the are mass foreclosures.

That’s why the House Financial Services Committee, which I chair, recently approved the PATH Act — the Protecting American Taxpayers and Homeowners Act. The PATH Act creates a sustainable housing finance system by limiting government control, putting private capital at the center of the mortgage system and giving homebuyers more informed choices about their mortgage options.

However, mass foreclosures are the key. With private capital involved, there will no longer be low income families buying homes. They will not have the down payments that keep people from just walking away from the loan. Excellent idea, I love it. But, it's not the democrat way. The whole fair/unfair argument about the haves and have not's will rise. The NAACP has already spoken up. Oh, did you miss that article, the one where the NAACP claimed Obama was backing keeping Fannie and Freddie in place for the vunables?

Before you jump up and down yelling "hip hip hooray for the death of Fannie Mae" (cool, I made a rhyme,) you may want to remember that we have corrupt politicians that just want a sweet gig until they retire. Either party, does not matter. Think of it this way, what percentage of voters do not pay taxes. They want to live in houses just like working people. Do you think they give a crap about the PATH act, or do they care more about Ben Aflack not playing Batman. I think Batman and whatever keeps them in their houses.

[Bouray00]

Sounds to me like Jeb really does not have a plan at all. Just a blow hard politician looking for votes, not solutions to problems. Oh, and don't forget. Whoever pony's up that private capital will want a sizable rate of return. This is not utopia you know. You have to pay to play, or go the route of socialism. I guess we know the answer to that.

Finally, the PATH Act removes artificial barriers to private capital to attract investment and encourage innovation.
Others, including some who profit from the status quo, have discussed different reform plans. I welcome them, but all of us must be careful. We cannot allow a plan to become law that simply puts Fannie and Freddie in the federal witness protection program, gives them cosmetic surgery and new identities, then releases them upon an unsuspecting public.