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

Obamacare for the mortgage industry?

Notify me of new replies via email
Mortgage Professional America | 02 Apr 2014, 01:27 PM Agree 0
A self-proclaimed seniors' advocacy group claims a Senate plan to overhaul Fannie and Freddie will amount to a government takeover of the mortgage industry -- but do the claims hold up?
  • Jack C | | 02 Apr 2014, 02:14 PM Agree 0
    I really don't trust anything with the word "Obama" in it...or even remotely related
  • Dan McMortgage | | 02 Apr 2014, 02:19 PM Agree 0
    Are you kidding? The C enter for Media dn Democracy" is your source?? George Soros funded? Didn't mention that though did you.

    See below:
    CMD states that it accepts donations from "individuals and philanthropic foundations through gifts and grants", but "no funding from for-profit corporations or grants from government agencies." It maintains a partial list of supporters on its website.[8]

    In an opinion for Fox News, conservative media critic Dan Gainor wrote that BanksterUSA received $200,000 from the Open Society Institute (OSI), the charity associated with investor George Soros.[24] CMD stated that it received a grant from OSI "to continue work on national security issues".[8]

    In 2011, CMD received $864,740 in donations. $520,000, or 60% of 2011's total revenue, was received from the Schwab Charitable Fund, a donor-advised fund which preserves the anonymity of donors by not disclosing individual donor names.[25] CMD has been a staunch critic of donor-advised funds, referring to such donations as "dark money."[26][27]

    The Tides Foundation, a foundation known to donate primarily to liberal organizations, reported giving CMD $160,000 in 2011, but that money did not appear on CMD's tax return. When asked why CMD heavily criticizes conservative organizations for not revealing their donors while refusing to name all of CMD's funders, CMD's Executive Director Lisa Graves said, “The question of conservative funders versus liberal funders, I think, is a matter of false equivalency.” [28]

  • 2bsquare | | 02 Apr 2014, 02:21 PM Agree 0
    Not for nothing here, but the Feds already own F&F. To believe anything else is shortsighted.

    Question is, will F&F require mandatory Obamacare payments, or proof of insurance in the DTI calculations for QM mortgages.
  • Lee in CA | | 02 Apr 2014, 03:21 PM Agree 0
    Although Fannie and Freddie are not perfect, what is that they are so determined to "fix"?
  • Dan McMortgage | | 02 Apr 2014, 04:37 PM Agree 0
    Better question is why is this publication printing such anti-business drivel? Why are they using sources that are anti-business??

    So this group cannot claim to be a "senior advocay group" but the AARP can?? AARP spends $10 million a year lobbying for things like....Oh I dont know....Obama Care for example....and yet Mortgage Professional America says that "60 Plus" is not fir to speak for seniors....says who?

  • DAN MCHUGH | | 05 Apr 2014, 12:13 PM Agree 0
    why is it bad for 7 million americans to now have insurance? At least now instead of the emergency room visit being billed to the taxpayer it will now be payed for by INSURANCE!! You FOX watchers are blind to that fact. FOX viewers are the least well informed people on the planet. If you would simply take your head out of the sand for a second maybe you could actually appreciate that someone besaides YOU is actually going to have insurance even if it does cost YOU a buck or two.
  • AARP is clearly biased... | | 05 Apr 2014, 03:38 PM Agree 0
    and now has competition;

    Association of Mature American Citizens

    Fannie and Freddie are cash cows and another method to control. Of course the government wants it...for your protection that is.
Post a reply