Comments on: Why are we bailing out Fannie Mae and Freddie instead of the people they took advantage of? http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of Mortgage Information When You Need It 24 Hours A Day Sat, 29 Nov 2008 14:54:59 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Bastion http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of/comment-page-1#comment-1907 Bastion Sun, 12 Oct 2008 06:07:59 +0000 http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of#comment-1907 Yes, I agree that there should be more shelters for the back-bone of America, the home buyers!! They should but that's who corporate USA cares the least about...and we all know who our decision-makers bow to, certainly not the people! It's truly a result of greed in our government to turn a blind-eye. This bail-out is the result of the following: -the wall street contingency that came up with the whole idea of collateralized mortgaged obligation i.e. bundling mortgages and selling them. it was a good idea to begin with though - subprime lenders, primarily shady ones that knew they could make loans, then sell them to get that garbage off their balance sheet while raising funds to make more sketchy loans - investors in CMOs who turned a blind eye to the inherent problems implied by the risk-based mispricings in them - the CMO issers who bundled garbage loans and mispriced them by understating the risk associated with the underlying mortgage loans - the ratings agencies that failed to see the problems w/these instruments - fraudent real estate appraisers that worked in concert w/mortgage lenders in over-estimating the values of homes, thus causing poor working folks to take out inflated mortgages. then when it came time to sell the homes, of course the homes sold at prices lower than the previousl appraised values, leaving the original homeowners in a bind as to how to cover teh spread. - the govmt., for not doing enough to nip this problem in the bud - the investment banks that pushed this garbage on to unknowing investors<br><b>References : </b><br> Yes, I agree that there should be more shelters for the back-bone of America, the home buyers!! They should but that's who corporate USA cares the least about…and we all know who our decision-makers bow to, certainly not the people! It's truly a result of greed in our government to turn a blind-eye.

This bail-out is the result of the following:

-the wall street contingency that came up with the whole idea of collateralized mortgaged obligation i.e. bundling mortgages and selling them. it was a good idea to begin with though

- subprime lenders, primarily shady ones that knew they could make loans, then sell them to get that garbage off their balance sheet while raising funds to make more sketchy loans

- investors in CMOs who turned a blind eye to the inherent problems implied by the risk-based mispricings in them

- the CMO issers who bundled garbage loans and mispriced them by understating the risk associated with the underlying mortgage loans

- the ratings agencies that failed to see the problems w/these instruments

- fraudent real estate appraisers that worked in concert w/mortgage lenders in over-estimating the values of homes, thus causing poor working folks to take out inflated mortgages. then when it came time to sell the homes, of course the homes sold at prices lower than the previousl appraised values, leaving the original homeowners in a bind as to how to cover teh spread.

- the govmt., for not doing enough to nip this problem in the bud

- the investment banks that pushed this garbage on to unknowing investors
References :

]]> By: geekstreat http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of/comment-page-1#comment-1906 geekstreat Sun, 12 Oct 2008 05:48:59 +0000 http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of#comment-1906 Our government should not be in the bail out business. Thats not what they were intended to do. All these bailouts of private companies are TOTALLY UNCONSTITUTIONAL and although it would hurt us short term to let them fail, we cant let our government be in this business or the long term effects we be mega disastrous. Its pathetic. Now Ive got word that the big three automakers are requesting BILLIONS to bail them out. Its a joke! How about we bail ourselves out by ended this stupid illegal war and use those funds to support our OWN economy and infrustructure?!<br><b>References : </b><br>Common sense Our government should not be in the bail out business. Thats not what they were intended to do. All these bailouts of private companies are TOTALLY UNCONSTITUTIONAL and although it would hurt us short term to let them fail, we cant let our government be in this business or the long term effects we be mega disastrous. Its pathetic. Now Ive got word that the big three automakers are requesting BILLIONS to bail them out. Its a joke! How about we bail ourselves out by ended this stupid illegal war and use those funds to support our OWN economy and infrustructure?!
References :
Common sense

]]> By: Brian in Chicago http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of/comment-page-1#comment-1905 Brian in Chicago Sun, 12 Oct 2008 05:30:59 +0000 http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of#comment-1905 Fannie Mae has nothing to do with student loans. The government takeover of Fannie Mae and Freddie Mac is designed to put downward pressure on mortgage rates and to ensure that home loans remain available.<br><b>References : </b><br>http://www.bankrate.com/brm/news/mtg/mortgage-news-a1.asp Fannie Mae has nothing to do with student loans. The government takeover of Fannie Mae and Freddie Mac is designed to put downward pressure on mortgage rates and to ensure that home loans remain available.
References :
http://www.bankrate.com/brm/news/mtg/mortgage-news-a1.asp

]]> By: Fancy That http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of/comment-page-1#comment-1904 Fancy That Sun, 12 Oct 2008 05:25:59 +0000 http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of#comment-1904 1. We have a very conservative government right now, and they are always for the interests of the wealthy at the expense of the tax payer. Harvard business school teaches that one should Privatize Profit while Publicize the costs. 2. Because of Regan's stupid deregulation policies which allowed this to happen, we are in a situation that if we do NOT bail them out, then our economy will collapse, so we really have no choice. 3. This cycle will continue as long as this country elects right wing wacko's to office. <br><b>References : </b><br> 1. We have a very conservative government right now, and they are always for the interests of the wealthy at the expense of the tax payer.
Harvard business school teaches that one should Privatize Profit while Publicize the costs.

2. Because of Regan’s stupid deregulation policies which allowed this to happen, we are in a situation that if we do NOT bail them out, then our economy will collapse, so we really have no choice.

3. This cycle will continue as long as this country elects right wing wacko’s to office.
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]]> By: Katie http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of/comment-page-1#comment-1903 Katie Sun, 12 Oct 2008 04:41:59 +0000 http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of#comment-1903 Fannie Mae has nothing to do with student loans. I think you are thinking of Sallie Mae. And it isn't Freddie Mac who took advantage of the borrowers - they purchase loans from banks on the secondary market. I don' think that everyone was "taken advantae of" but rather some people want nice things and houses and thought they found the easy way out to do that with the adjustable rate mortgage loans. I work hard, my husband works hard and we have a house that we can afford. And it is just about1,500 sf. I'd love a bigger house but I can't do it because I understand what it means to live within your means.<br><b>References : </b><br> Fannie Mae has nothing to do with student loans. I think you are thinking of Sallie Mae. And it isn’t Freddie Mac who took advantage of the borrowers – they purchase loans from banks on the secondary market.

I don’ think that everyone was “taken advantae of” but rather some people want nice things and houses and thought they found the easy way out to do that with the adjustable rate mortgage loans.

I work hard, my husband works hard and we have a house that we can afford. And it is just about1,500 sf. I’d love a bigger house but I can’t do it because I understand what it means to live within your means.
References :

]]> By: Dan http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of/comment-page-1#comment-1902 Dan Sun, 12 Oct 2008 04:17:59 +0000 http://24hourmortgageinfo.com/fannie-mae/why-are-we-bailing-out-fannie-mae-and-freddie-instead-of-the-people-they-took-advantage-of#comment-1902 Check out who they are. Honestly they are the BIG dominoes - if they go down we are in a DEPRESSION! As cold as that may seem.... if your suggestion were taken, I"D be bailed out - I have one of their sh!t mortgages. <br><b>References : </b><br>http://en.wikipedia.org/wiki/Fannie_Mae Check out who they are. Honestly they are the BIG dominoes – if they go down we are in a DEPRESSION! As cold as that may seem…. if your suggestion were taken, I”D be bailed out – I have one of their sh!t mortgages.
References :
http://en.wikipedia.org/wiki/Fannie_Mae

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