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House Dems introduce bill to replace Fannie, Freddie

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Mortgage Professional America | 11 Jul 2014, 07:40 AM Agree 0
A trio of House Democrats have introduced a bill to overhaul housing finance
  • nope | | 11 Jul 2014, 09:36 AM Agree 0

    It is not completely broken ,but when our lawmakers get through with it ,it will be. Examples of Government failure, IRS , post office, Social security, Obama care Medicare, Border security.
  • Charles Stidham | | 11 Jul 2014, 10:26 AM Agree 0
    Dear dazed and confused lawmakers,

    NEWSFLASH; Fannie Mae and Freddie mac are posting record profits and the foreclosure rate for mortgages originated and closed from 1/1/12 to present is less then 1%. Please stop trying to make yourselves look good by introducing lame and inept legislation for a problem that has already been solved. Get a life and pay attention.
  • sbharkness | | 11 Jul 2014, 11:10 AM Agree 0
    Here we go again! Big Government sticking there legislative noses into a problem that has already been resolved. FNMA & FHLMC are posting record profits. In addition the quality of the mortgages used to back the bond issuance's have never been higher. These things are gone through with a fine tooth comb not only for compliance but also sale-ability.

    Things were working with the system perfectly for decades when government under then President Bill, "Home-ownership is a right" Clinton decided to deregulate the banking industry. This had everything to do with several of his cronies being able to make mega fortunes than it did to do with allowing American's to buy homes! Again, just as we are starting to see some light at the end of the tunnel, here come three Congressman that probably couldn't spell the word "Mortgage" between them. They certainly could not explain how a mortgage becomes securitized, then used for collateral for bond sales, but they don't have to understand. What they do understand is dollars and how many will be funneled into their coffers by the lobbyist asking for these supposed reforms. We so need to get private money, and the corruption it brings out of big government.
  • gary H | | 11 Jul 2014, 11:13 AM Agree 0
    I am a member of the NAR as well. Truthfully the government can't screw up enough. Fannie and Freddie are posting record profits. Do you think they will lose these records too? That way they don't have to account to the American people. Time to impeach the buttheads in WASHINGTON. Let's see some effort in protecting our borders from the illegals. Mr. Photo OP is a JOKE and a disgrace.!
  • CJ KABIS, MRA, CMC | | 11 Jul 2014, 12:46 PM Agree 0
    Hello???? the lights are on but no body is usual.
    stop trying to fix something that is already fixed. Record profits and minimal foreclosures is exactly what these two agencies have worked toward since their inception...
    Now that it has been achieved YOU REALLY THINK YOU CAN MAKE IT BETTER? why not focus on real problems and let well enough alone.
  • G A Montigny CRMS | | 11 Jul 2014, 02:44 PM Agree 0
    This will help out the big banks and kill the little lenders and wholesalers who do NOT have the large capital reserves of a Chase, Wells, B of A, Citi, etc. Way to smash the little guy again federal government, just to make is seem like you are doing something. This is 100% a big bank idea being sold through the politicians they keep in their pocket with campaign contributions. I wonder how much cash those house reps got from the major banks last election? Oh the timing is REAL nice for those house guys with an election 4 months away...I would like to see how much they get/got this year too.
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