Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Billions lost to fraud through lack of communication at Fannie, Freddie -- report

Notify me of new replies via email
Mortgage Professional America | 26 Aug 2014, 10:15 AM Agree 0
The government’s mortgage finance giants could have saved taxpayers billions had they more effectively shared information about a massive fraud case
  • | | 26 Aug 2014, 10:45 AM Agree 0
    weren't Fannie and Freddie competitors prior to govt take over (at the time of the audit)
  • Former Middle Class now at Poverty Level | | 26 Aug 2014, 11:07 AM Agree 0
    How do we get our money back?
  • Steve Dawson | | 26 Aug 2014, 11:47 AM Agree 0
    This story was covered in the Housing Wire several years ago. FNMA knew of this crime of fraudulent mortgages on the part of TBW, but did not report it to regulatory authorities. A prominent individual in the current White House was part of FNMA's decision to bury reporting this crime and because evil men rule when good men do nothing, Farkas and company were able to continue their fraud costing billions.
  • Charles Stidham | | 26 Aug 2014, 12:45 PM Agree 0
    Here we go again for the 1,017th time: we receive yet another article for something that happened financial eons ago. People............ the horse is dead so quit shooting it so your name can show up in some lame story in the MPA Editor. I mean really, it's not like this story is breaking news that cancer has been cured.

    Fannie Mae and Freddie are making the government hundreds of millions in profit right now and the foreclosure rate is less than 1/2 of 1% for the past 2 years. Can we ever move on? This story is curmudgeonly old.
  • ErikKengaard | | 27 Aug 2014, 07:51 AM Agree 0
    Senator Mark
  • ErikKengaard | | 27 Aug 2014, 07:52 AM Agree 0
    Senator Mark Warner's efficient government at work. Great job, Mark.
  • Jack | | 15 Apr 2015, 05:16 PM Agree 0
    Nothing new here- move along...
Post a reply