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FHFA head accuses investors of Fannie, Freddie 'amnesia'

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Mortgage Professional America | 11 Nov 2013, 06:08 AM Agree 0
Ed DeMarco is accusing investors of amnesia as he continues taking steps to bury Fannie Mae and Freddie Mac
  • Patti | | 11 Nov 2013, 08:09 AM Agree 0
    DeMarco thinks the Feds can do it better, and rake in the revenue. A little knowledge is a dangerous thing. The underlying motive frightens many people. These bailout mortgages were designed for this in mind. Look at the losses HUD has. Brilliant!
  • Steve | | 11 Nov 2013, 09:08 AM Agree 0
    Leave Fannie and Freddie alone. They are making money. Many restriction are in place now to prevent what happened in the past.
  • George McGuire | | 11 Nov 2013, 09:10 AM Agree 0
    The administration did not have such an attitude when it came to propping up the domestic auto industry. What is incredible is that the historic half decade performance of these agencies other than the recent world wide financial collapse is strong proof that they should be left alone. At best, the government will create trauma in housing finance markets and come up with something roughly the equivalent of these two agencies with more bureaucracy and less competition with resultant higher costs to American families.
  • Steve | | 11 Nov 2013, 09:25 AM Agree 0
    I think this says it all!

    National Real Estate Post: "Quit Kicking the GSE Dead Horse" (00.27 to 05:04)
    http://www.viddler.com/v/b82a848
  • Marv S | | 11 Nov 2013, 10:53 AM Agree 0
    I find it interesting that DiMarco can even speak on his own as the administration is controlling his thoughts and mind.

    Good plan for growth, keep destroying the industries.
  • Popular Economics Weekly | | 11 Nov 2013, 12:17 PM Agree 0
    Fannie and Freddie would be just fine if their capital reserve requirements would match banks', whereas they were just 50% before housing bust. They have Gold Standard u/writing everyone has to follow, which is why their default/foreclose rates almost back to historical lows.
  • Tim | | 11 Nov 2013, 01:05 PM Agree 0
    Mr. Demarco,

    Did the ability of congress to strong arm the agencies into buying subprime securities play a part?
  • JOE M | | 11 Nov 2013, 02:37 PM Agree 0
    Those that caused the problems are the ones
    still trying to fix them......... leave the
    housing market alone, and it WILL come back to help the overall economy. TOO MUCH
    TINKERING will kill it altogether!!!
  • LMR | | 11 Nov 2013, 03:05 PM Agree 0
    This guy obviously is in the back pocket of the likes of Bank of America, Wells Fargo, etc. They want to totally control mortgage lending and Fannie/Freddie is in their way to dominate the market more than they already do. If DeMarco has his way there will be no competition in mortgages and we will have to pay whatever the big banks demand.
  • Patti | | 11 Nov 2013, 07:56 PM Agree 0
    When it comes to the government, they all have back pockets and all of them are full of each other. Our voices are getting smaller and smaller.
    They drink their own kool aid.
  • Howard | | 12 Nov 2013, 04:04 AM Agree 0
    This guy is a GOP hack and a shill for the big banks and wall street who want nothing more that to muscle in and take over the pricing, distribution, securitization that FNMA and FHLMC already do. They want to make sure they price to what they want, remember the LIBOR Scandal, that must have cost the consumers of the world Trillions. Make sure they follow their Gold Standard rules and everything should be good. To really insure that the financial future of our country becomes secure, break up the big banks into regional banks and limit their size. Next take the banking act of 1933 and modernize it. It was only about 120 pages long and the new act that was voted in is over 2400 pages with much watering down at the behest of our congressmen who are still getting paid off by banking and wall street interests. Fannie and Freddie were once good for America and can be once again.
  • Charles | | 13 Nov 2013, 03:38 PM Agree 0
    You tube dems vs. reps on fnma.
    Congress politicized the gse's into toilets and now that the problem corrected itself years ago,
    they're still trying to ride in on their white horse and act like the saving consumers. They've helped no one.
  • Patti | | 13 Nov 2013, 03:51 PM Agree 0
    Charles, you are correct. Armchair Regulators comes to mind.
  • Yvette Villamana | | 19 Nov 2013, 10:11 AM Agree 0
    the government intervention caused the massive problems, and now that we are back on the road to recovery, they are intervening yet again and killing the industry. The big banks have been pushing for the competition to disappear, and our government is allowing that to happen. The consumer will pay dearly, and thousands of jobs will be lost.
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