Archives by Tag ' Freddie Mac '
Pretender lenders are going to cite this case as support for the idea that the note and mortgage can be separated and that either one can be the basis of a successful foreclosure. They will rely on the “exception” implied in the court decision wherein the owner of the note has an agency relationship with […]
Payment by third parties may not reduce the debt but it does increase the number of obligees (creditors). Hence in every one of these foreclosures, except for a minuscule portion, indispensable parties were left out and third parties were in reality getting the proceeds of liquidation from foreclosure sales. The explanations of securitization contained on the websites of […]
The following is but a short sampling supporting the argument that any document coming from the banks and servicers is suspect and unworthy of any legal presumption of authenticity or validity. Judges are looking into self-serving fabricated documentation and coming to the wrong conclusion about the facts. Chase following bank playbook: screw the customer “Chase […]
Fighting Off Foreclosures http://www.dsnews.com/daily-dose/08-08-2017/fighting-off-foreclosures Editor’s Note: Fannie and Freddie have foreclosed on almost 4 million homes since the financial crisis of 2008. The GSEs typically can’t prove they own the loan if it was securitized between 1999 and 2014. Did you know that Fannie Mae and Freddie cannot accept a note that is not properly […]
Editor’s Note: Former Secretary of Treasury Timothy Geitner was instrumental in greasing the runways for HAMP so the GSEs could steal homes. But he also engineered the theft of GSE investor profits while proclaiming Fannie Mae and Freddie Mae to be on the verge of collapse. Instead, the federal government, in an act of unconscionable […]
Editor’s Note: The Fed is doing everything in its power to maintain the real estate bubble in order to maintain demand- by lowering credit score requirements, offering lower down payments (1 to 3%), and now removing the lender’s responsibility for home valuations. What could go wrong? http://www.miamiherald.com/news/business/real-estate-news/article157002859.html By KENNETH R. HARNEY Do we always need […]
A sluggish mortgage-bond market could be jump-started by a new service that allows investors to short home loans. Skeptics say the rise of derivatives on credit-risk transfer notes sold by Fannie Mae and Freddie Mac has echoes of the 2008 credit crisis, when the market plunged under the weight of collapsing subprime securities. Fannie and Freddie – the […]
After four months of leaving the benchmark interest rate for standard mortgage modifications (not including HAMP mods) at an 18-month high, Fannie Mae and Freddie Mac recently announced that they are cutting the benchmark rate. Back in January, Fannie and Freddie increased the standard mortgage modification benchmark rate from 3.875% to 4.25%. That level is the highest […]
By Richard Bowen They’re Back! Fannie and Freddie Ride Again It looks as if Fannie Mae and Freddie Mac have not learned from their previous enabling of banks leading to the financial crisis. In fact, it looks as if the two are still using the same business model; they are lowering even further their underwriting […]
Homeowners start preparing your Fannie and Freddie FOIA requests. A brief window to submit your request may occur prior to the GSEs being privatized again. Last week H.R. 1694 passed in the House of Representatives. This bill will make Fannie Mae and Freddie Mac subject to the requirements of the Freedom of Information Act, which […]
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