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Trump Treasury nominee’s comments send Fannie, Freddie stock soaring

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Mortgage Professional America | 01 Dec 2016, 11:24 AM Agree 0
Stock in Fannie Mae and Freddie Mac skyrocketed 45% after Steve Mnuchin said the incoming administration wanted to get the GSEs out of government ownership
  • Joanne | | 01 Dec 2016, 01:18 PM Agree 0
    Both these agencies are FULLY CORRUPT AND NEED TO BE CLEANED UP FROM TOP TO BOTTOM!!! More fraud and abuse by Elite Libs!

    DEMS have used and abused these agencies for billions of dollars. Maxine Waters husband for one.... there is a long list!
  • Timely | | 01 Dec 2016, 01:30 PM Agree 0
    One West Bank and Indymac were the biggest sleaze balls in the mortgage lending market. So putting one of theirs in this position shows where we are headed. And this is bipartisan, I hate to tell you.
  • Gary H | | 01 Dec 2016, 03:08 PM Agree 0
    Government and larger banks stole the middle classes equity and literally and wrongfully drove many good brokers out of business or force them to join a banker.Interesting how the big banks made billions if not trillions that Countrywide after being swallowed by BOA is now innocent ( which I have been saying all along was a" leftish" set up ) who were in bed with those "eliteists". Obama administration succeeded in doubling the costs of the appraisals and stagnating values. Fannie and Freddie have succeeded in telling us what homes should be worth and if you don't follow the government rules an appraiser could be removed from doing appraisals. To me a home is worth what a buyer is willing to pay for this ( on an open unfettered market) .37 years in the industry, with an appraisal background since 1979 says this is so. Again why has Barney Frank been allowed to open an AMC (Appraisal management Company) when he Co-SPonsored the very bill pushed by liberals . WHy are the banks allowed to own 49.9% of the AMC ? Why are there different rules for brokers and
    bankers (especially when taking into consideration ) COMPENSATION . Don't blame Wallstreet blame the leftish greed that wanted to control all. Like OBAMACARE didn't work and thank goodness for an outsider!!

  • Maxine | | 01 Dec 2016, 03:49 PM Agree 0
    Joanne sounds like she has a stick in her butt 😊
  • | | 01 Dec 2016, 05:41 PM Agree 0
    There is no evidence anywhere that I have found where Barney Frank owns an AMC. Remember AMC ownership is public.
  • 1956 | | 06 Dec 2016, 02:14 AM Agree 0
    Gary, I hear you. I was saying along that the brokers were being pushed out; they did not want the little guy to succeed; they want the major big banks. And yes why different rules!

    I was one of the independent mortgage brokers fortunate to make it through the market collapsed. Sometimes, I think I was just too stubborn to throw in the towel...I was determined I had a right to be in the business and that the consumer needed me and others like me to help them make it through. I am sure you too heard the consumer horror stories of how the big bucks, Wells Fargo, Bank of America, and others treated them ( the homeowner) attempting to get help.

    Barney Frank - carries a rather large chip on his shoulders.

    Old school - Value is determined by a willing seller and a willing buyer...

    Side bar - When FHA lowers their monthly mortgage insurance (MI) payment , maybe houses would be a little more affordable for the middle class consumer. And why should FHA be allowed to carry it on a mortgage for such a long time plus get paid the up front MI. Because they can...otherwise they too would have gone upside down. Gee, would it be unethical if I would to increase my fee to an outrageous amount so that I could make ends meet. Different rules for different folks.

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