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

Fannie and Freddie proving hard to kill

Notify me of new replies via email
Mortgage Professional America | 16 Oct 2013, 04:00 AM Agree 0
Fannie Mae and Freddie Mac just won’t stay down no matter how much punishment the government throws at them
  • Brian Pickl--Broker Lakes Area Real Estate, LLC | | 16 Oct 2013, 09:54 AM Agree 0
    That is a great idea. Dismantle the GSE s just as the Federal Government has "dismantled and Disrupted" private health care as we know it with Obamacare, and watch what a mess it causes. The mortgage meltdown, in my opinion, had little to do with Fannie and Freddie products that are generally conservative in nature; fixed rate traditional mortgages, and also Adjustable Rate Mortgages with predictible indicies and reasonable margins-- and everything to do with Irresponsible BORROWERS and Lenders ; Thats right i did say borrowers; taking agressive 2 year Arm programs. We have gotten used to giving excuses to people who claimed no knowledge of the terms of the Loan Agreements/Notes they were executing and blaming lenders, even though the simple math was presented to them time and time again before executing the closing documents. At what time do we look to the borrower to take responsibilty for and live with the terms under which they agreed to repay their debt?
  • Thomas Wilson, President, Optima Mortgage | | 17 Oct 2013, 09:45 AM Agree 0
    The US housing industry is the back bone of our economy, and is envied by countries all over the world. Dismantling the GSE's would "dry up" mortgage money and significantly increase rates/shorten mortgage terms for anyone wanting to purchase/refinance a home.
    Additionally, the economy would take a significant "hit" if private capital replaced the GSE's with higher rates, shorter mortgage terms, and larger down payments that would significantly lower home ownership and cripple our fragile economy.

Post a reply