Thursday, August 13, 2015

Renting in America has never been this expensive #FannieGate FHFA Fannie Mae

Renting in America has never been this expensive
While mortgages remain relatively affordable, landlords have been able to increase rents because demand for apartments remains strong. The U.S. homeownership rate fell to the lowest level in almost five decades in the second quarter, as strict lending standards and tight inventories keep many families in the rental market.

The government is running the mortgage and rental market by controlling Fannie Mae and Freddie Mac. Most people do not know Banks only Write the loan up, then sell it to fannie or freddie. Thats how mortgages work in America. Ask you politicians why they want home ownership dead in america by keeping Fannie and Freddie on the government conservatorship? The same banks are some of the biggest landlords in the nation! If home ownership rates are to climb the free market for mortgages has to come alive. Fannie and Freddie have been the middle class and lower middle class answer for 80 years! Since FDR originated them. Dont forget the Banks who are robbing renters now committed Fraud on Fannie and freddie to the tune of Billions of dollars. By the way, of the $186 billion Fannie and freddie needed in bailout, they have paid back $240 billion to the government! Rents are high because of banks! Home ownership is low because of Politicians in Washington. Wall street takes from main street. Fannie and Freddie support 90% of all new mortgages in the USA, can you imagine what rents would be without Fannie and Freddie around? It would be a disaster!
#FannieGate FHFA Fannie Mae

How Republicans Would Destroy Fannie and Freddie if They Win the Presidency

How Republicans Would Destroy Fannie and Freddie if They Win the Presidency

https://timhoward717.files.wordpress.com/2015/08/how-republicans-would-destroy-fannie-and-freddie-if-they-win-the-presidency-final.pdf

Conclusion
Democrats have nearly everything they could possibly hope for in a housing finance system right now. Mortgage credit is required to be provided in line with actual demand across the income spectrum, underwriting standards force banks to offer the same terms to low-income and minority borrowers as are given to the wealthy, and billions of dollars are being provided to help ensure the availability of affordable housing for people in severe poverty. If a new housing finance system had to be created in Washington right now, Democrats couldn’t hope to get even a quarter of what they’ve got now, and even that would cost a serious price. It would be the height of recklessness to allow a vulnerable Fannie and Freddie to be given to a potential Republican president, yet the companies are still stuck in conservatorship, forbidden from rebuilding capital. The GSEs need to be released and recapitalized. As Al Sharpton put it in his recent defense of Fannie and Freddie, “This administration has the authority today, and the moral obligation, to take action while there’s a chance to save homes and provide families a pathway to homeownership. Before the disparities among Americans grow even starker. The time to act is now.”

Wednesday, August 12, 2015

Peekaboo Fannie Mae, Freddie Mac Accounting May Have Helped Circumvent Fifth Amendment

Peekaboo Fannie Mae, Freddie Mac Accounting May Have Helped Circumvent Fifth Amendment



Fannie Mae Freddie Mac Accounting

What is real interesting is 2008, 2009 where the real FAKE losses were generated. This is for Fannie Mae only, but Freddie is around the same idea.

2008. 
53 billion capital in hand, with 18 billion of that in CASH at end of 2008.
loan loss reserve forced as a FAKE loan loss on Fannie 44.9 billion at end of 2008.
add to that the 21.4 billion DTA loss, and Fannie Mae Loss was 66.3 billion in 2008. 
All those losses were accounting losses, not Actual loss. Known as write-downs. 
As you can see those were reversed in 2012,2013,2014 17.3 and 84.1 profit!

2009. 
58 billion capital in hand, with 6.8 billion of that in CASH at end of 2009.
loan loss reserve forced as a FAKE loan loss on Fannie 77.1 billion at end of 2009.
Fannie Mae Loss was 77.1 billion in 2009. 
All those losses were accounting losses, not Actual loss. Known as write-downs. 
As you can see those were reversed in 2012,2013,2014 17.3 and 84.1 profit!

Cash NI = Cash Net Income. 
2008 Net income was 7.6 billion. That's true Income above expenses!
2009 Net income was 5.0 billion. That's true Income above expenses!
The reason Fannie was profitable during 2008, 2009 was they had very few defaults compared to PLS and the Big Banks! PLS lost 5 to 1 compared to Fannie Mae. 
The governments plan to turn Fannie into the "bad bank" to take on losses came as soon as they got control of Fannie Mae and Freddie Mac. Push Fake accounting losses on them, and then send the Real losses from the banks to them and crush Fannie Mae for being bad. It is simple.
Rape Fannie for the benefit of the big banks.
Its all a LIE!