Saturday, January 10, 2015

Please send this message to your contacts emails and ask them to resend it as many as possible

Please send this message to your contacts and ask them
to resend it as much as possible


THE ULTIMATE ATTACK ON MIDDLE CLASS:
KILLING FANNIE MAE AND FREDDIE MAC
Not only the mortgage rates will go way up but
also it will be very hard to get a loan. You will pay
$1500 more per year on an average home loan of
$ 200K. That is an extra $45,000 in 30 years!!
SOME POLITICIANS ARE WORKING FOR THE
BIG BANKS!
These senators: Corker of TN , Warner of VA , and
Hensarling of TX , Crapo of ID are supporting a
bill in Congress that aims to wind down Fannie Mae
and Freddie Mac.
WHO ARE FANNIE AND FREDDIE?
Fannie and Freddie are government sponsored and
regulated corporations charged with the task of
buying the loans that your local banks lend to you.
In this way the banks free up their money and can
offer new credits to the community while keeping
the rates low.
WHO CREATED THIS COMPANIES AND WHAT FOR?
Fannie Mae was created in 1938 by Franklin Delano
Roosevelt in order to propel the housing market out
of the depression because the banks were reluctant to
lend their own money at their own risk on mortgages.
The same thing happens right now.
The big banks were bailed out by Government in the
recent crisis and were given hundred of billions .
However the banks used the bail out money for their
speculative investments rather than for loans to the
people.
WHAT HAPPENED DURING THE CRISIS?
Maybe you heard that these two companies were bailed
out by the government. The true is that the government
took over the companies and forced them to take 188
billions that they didn’t need. Instead the US Treasury
directed them to use the money to buy the toxic assets
of the big banks. It means that the government not only
lend money to the big banks but also helped them to get
rid of their bad assets using Fannie and Freddie as a trash
bin.
But the most important point is that in the last five years
only Fannie and Freddie have been supporting the housing
market by buying the mortgages originated by banks.
It happens because private investors flew away from
these genuine investments that create jobs.
.
WHAT DOES IT MEAN FOR YOU?
If Fannie and Freddie are wound down the mortgage
market will be left in the hands of the big banks. The credit
unions and local banks will depend on them.
The fees will go up. The interest rate will go up.
Several studies confirm that you will pay $ 1,500 more per
year in an average loan of $ 200K. That is $45K
in 30 years.
If you already have a mortgage your pain will come
at the time you want to sell your house because the
more expensive mortgages will keep prices down.
The entire housing market will collapse and millions
of jobs will be destroyed! Don’t let big banks control
your future. Think of your kids.
STAND FOR THE AMERICAN DREAM!
Call your congressman !
Send them an email saying that you want Fannie and
Freddie to stay.


Forward this email to your contacts because most of
the people is not aware of this issue.
Don’t Kill Home Ownership
Say NO to BIG BANKS
Keep Fannie Mae and Freddie Mac

Friday, January 9, 2015

How does the white house justify this quote from the president yesterday?

my reply and questions to the white house.
How does the white house justify this quote from the president yesterday?
“And that’s why we had the Justice Department fight for buyers who were discriminated against or preyed upon, and we won a settlement that awarded more money to victims in one year than in the previous 23 years combined. That’s why we worked with states to force big banks to repay more than $50 billion to more than 1.5 million borrowers who had been treated wrongly — and that was the largest lending settlement in history. And that’s why I’ve called on Congress to wind down the government-backed companies known as Fannie Mae and Freddie Mac.”
Did those settlements not go to Fannie and Freddie as every major paper in america told us? Did not those moneys get swept to treasury of USA from Fannie and Freddie as every major newspaper in america has told us? I had no idea that the people that were foreclosed on received $33,000 each? I bet that will be news to them too? Please tell me how this statement is true and how the white house intends to retract this type of speech writing that is lacking in fact.
Fannie and Freddie were victimized by the big banks and have not lost a lawsuit against them. Fannie and Freddie have been the only secondary market in america when all free market capital left. Free market capital will always leave in bad markets as seen in 2007. Winding down Fannie and Freddie to give the banks the business would be a direct blow to the middle class, I do not support such things or politicians that support putting the banks in charge of the same market the banks destroyed, not fannie and freddie.
With all due respect, I wait for your response.

"That’s why we worked with states to force big banks to repay more than $50 billion to more than 1.5 million borrowers who had been treated wrongly" $33,333 each, Did they get their checks yet?

Anonymoussaid:
'
Transcript of speech:
“And that’s why we had the Justice Department fight for buyers who were discriminated against or preyed upon, and we won a settlement that awarded more money to victims in one year than in the previous 23 years combined. (Applause.) That’s why we worked with states to force big banks to repay more than $50 billion to more than 1.5 million borrowers who had been treated wrongly — and that was the largest lending settlement in history. (Applause.) And that’s why I’ve called on Congress to wind down the government-backed companies known as Fannie Mae and Freddie Mac.”(NO Applause)
Facts and truth:
It is the banks and mortgage lenders that were prosecuted by Justice Dept and State Govs, for discrimination, preyed upon, treating wrongly.
In addition on behalf of FnF, FHFA and Justice Dept prosecuted the same banks and mortgage lenders for committing fraud against FnF and made them pay billions in fines and settlement.
FnF have never been prosecuted by any one for mistreating anyone.
In fact FnF are protecting borrowers thru strict guidelines and monitoring lending practices.
President should have known that FnF are not banks and not in direct mortgage lending business, FnF provide liquidity to these banks and mortgage lenders by buying loans.
In facts the banks which committed unlawful acts are regulated by the Gov and bank deposits are insured by Gov with taxpayers money. In such a situation Gov should have wound down erring banks. But these banks were rewarded with easy loans.
Can President tell public how Gov has backed or backing FnF?
Gov is backing only banks and MBS investors thru FnF.
Gov used FnF to save bankrupt WS banks at the cost of FnF and its shareholders and has also tried to bankrupt these privately owned companies.
Logically and legally speaking how can President punish FnF for unlawful acts of Banks. FnF were the victims of fraud committed by these banks.

Thursday, January 8, 2015

President Obama on housing

He said, he does not want fannie and freddie. 
He wants the 1.5 million people banks robbed to get the 50 billion dollars the treasury took from fannie and freddie. $33,333 dollars to each one of them! wait for your check in the mail.
He says wall st. injured the poor stupid buyers that had no idea what they signed. 
He says even though not one loan was ever written by fannie mae to a buyer, Fannie is the problem? bizzarro
I think with the court being obviously manipulated in favor of the govt, that even though we may be constitutionally right, NO ONE cares what that paper says. 
I actually cant believe that our government and president will tell lies to all of us, and NOT ONE news source will call him out on it. 
$33,333 to each home owner who was wronged by wall street! Not news? 
communist would love the freedoms we have that we choose not to use. 
$33,333 Ill wait for my check in the mail, im sure the others will too. Right?

http://youtu.be/ymAegF_1aZY

Obama lies about settlements

Anonymoussaid:

Obama lies about settlements! Listen what he says about the settlements GSEs!! won and should be paid.
He said: “that is why we worked with states to force big banks to repay more than 50 billion dolars to more than 1,5 milion borrowers who have been treated wrongly and that was the largest lending settlement in history.
so..
1. the big banks treated badly…
2. they treated badly borrowers… ehmm how were the borrowers badly treated? That they got mortgages for houses they couldnt afford? Isnt that a fault of the borrowers?
3. big banks repaid 50bln to 1,5 mln. borrowers… oh realy? They got check?Didnt the money end up in TREASURY to do with it whatever they want?Really Obama?!!
and on top of that he says in next sentence the GSEs were the bad and called for their wind down. Not a word mentioning that the GSEs were treated wrongly by banks…
How the f. you are winding down the GSEs and not the big banks, which you recognize is the one who f.up the system. How did he not smash them down into ground after saying this?!!!?!!!Oh I forgot, they are the big banks…
another sentence :”not allowing making bad bets on taxpayer backed money and than getting bailed out afterwards.. Isnt that EXACTLY what the banks has been doing!! How did GSEs made bad bets on loans that banks sold them as AAA instead of DDD?
This guy knows nothing or he pretends that he doesnt, which is far more worse..
President of The USA, the most developed democratic country in the world lies…? Or should we say… The United states of Big Banks ?…

Wednesday, January 7, 2015

New freddie mac board member

An Xudong, Raphael Bostic, Yongheng Deng, and Stuart Gabriel conduct two tests to evaluate the effects of GSE mortgage purchases on median house value and homeownership rate. They use data from 1990 to 2000 and test the hypotheses that GSE performance in targeted areas affects home prices. They use a list of sociodemographic characteristics and such independent variables as the price-to-income ratio, the annual growth in home prices, the supply constraint index, the percentage of the population age 65 or older, changes in household size, the change in minority percentage of the population, and the unemployment rate. They find that increased GSE activity is statistically associated with declines in neighborhood vacancy rates and increases in median home value.[18]

Professor Raphael Bostic was interviewed by KFI-AM about the Fannie Mae and Freddie Mac takeover. The federal government stepping in will mean more stability in the market and probably a drop in interest rates for some home loans, according to the story. “For California, it will be a good thing,” said Bostic, director of the Master of Real Estate Development program at SPPD. “[W]ith the recent increase in the loan limit for Fannie and Freddie, a lot of homeowners will have access to those cheaper mortgages.”

At USC, Bostic’s most recent work has been examining how mortgage finance institutions, such as Fannie Mae and Freddie Mac, have influenced the flow of mortgage credit through lenders that mainly originate high cost, or subprime, loans and through the Federal Housing Administration insurance program.
Bostic was nominated for his new role while on a leave at the Wagner School at New York University, where he has been a visiting scholar. He will be taking an extended leave from USC, where he has been for eight years, while he is working for the government.
Bostic said that addressing the nation’s housing problems will be a top priority in his new job.
“Clearly the structure of housing markets and housing regulation has been at the root of a lot of the problems that we have seen nationwide and in the broader economy,” he said. “There’s a whole host of things around mortgage structure that need to be resolved from rules for lending, disclosures, licensing, and I imagine at some point I will be engaged in all of those.”
“Housing is a core part of our urban place so you need to be thinking about housing if you are going to be thinking about how cities work and fit together,” he said. “Cities are the building block and backbone of our economic system and success, so understanding them is really central.”
The FHA is not Fannie Mae or Freddie Mac. Those entities buy up existing mortgages. The FHA is essentially in the insurance business, designed to encourage lending to riskier home buyers, those who have lower credit scores or don’t have the savings needed to put up a large enough down payment.
“FHA has historically been an entrĂ©e for a bunch of first time homebuyers to get access into home ownership,” says Raphael Bostic, a USC public policy professor and former HUD assistant secretary.
Bostic adds that the program with roots in the Great Depression has been especially important for minority home buyers.

Monday, January 5, 2015

Mayopoulos: Fannie Mae’s rebound means taxpayers have been repaid in full

Mayopoulos: Fannie Mae’s rebound means taxpayers have been repaid in full


CEO of Fannie Mae!

The U.S. Congress should use caution if it undertakes housing finance reform because of the complicated nature of the industry and because of the potential risks involved, according to Timothy Mayopoulos, president and CEO of Fannie Mae.

Mayopoulos said nearly every country in the world plays a public role in housing because of the "fundamental societal need."

"This housing finance system works," said Mayopoulos
"Fannie Mae was able to repay the taxpayer within five years. It is sustainable," Mayopoulos continued. "The system works. 

When asked how the agency would function without that capital, Mayopoulos said those were decisions made when the agency was placed in conservatorship.

Now that public sentiment is beginning to change, Perry and Mayopoulos said.

http://www.bizjournals.com/atlanta/news/2015/01/05/mayopoulos-fannie-mae-s-rebound-means-taxpayers.html


SENIOR PREFERRED STOCK PURCHASE AGREEMENT

http://www.treasury.gov/press-center/press-releases/Documents/seniorpreferredstockpurchaseagreementfrea.pdf

6.7. Effect of Order; Injunction; Decree. If any order, injunction or decree is issued by any
court of competent jurisdiction that vacates, modifies, amends, conditions, enjoins, stays or otherwise
affects the appointment of Conservator as conservator of Seller or otherwise curtails Conservator’s
powers as such conservator (except in each case any order converting the conservatorship
to a receivership under Section 1367(a) of the FHE Act), Purchaser may by written notice to
Conservator and Seller declare this Agreement null and void, whereupon all transfers hereunder
(including the issuance of the Senior Preferred Stock and the Warrant and any funding of the
Commitment) shall be rescinded and unwound and all obligations of the parties (other than to
effectuate such rescission and unwind) shall immediately and automatically terminate.

6.12. Non-Severability. Each of the provisions of this Agreement is integrated with and integral
to the whole and shall not be severable from the remainder of the Agreement. In the event
that any provision of this Agreement, the Senior Preferred Stock or the Warrant is determined to
be illegal or unenforceable, then Purchaser may, in its sole discretion, by written notice to Conservator
and Seller, declare this Agreement null and void, whereupon all transfers hereunder (including
the issuance of the Senior Preferred Stock and the Warrant and any funding of the Commitment)
shall be rescinded and unwound and all obligations of the parties (other than to effectuate
such rescission and unwind) shall immediately and automatically terminate. 

If any part of the SPSA agreement, including the sweep and or warrants is determined illegal the entire contract can become Null and Void.