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Federal National Mortgage Association Message Board

  • conform23 conform23 Jul 8, 2013 10:25 AM Flag

    What we're seeking is to require Treasury and the FHFA to obey the rules set forth in the Housing and Economic Recovery Act" of 2008,

    "What we're seeking is to require Treasury and the FHFA to obey the rules set forth in the Housing and Economic Recovery Act" of 2008, a lawyer involved in the litigation, speaking on condition of anonymity, told reporters on a conference call. "There are no damages being sought."

    So it seems its ok if laws are broken, rules changed, and investors hurt for a government bailout - as long as its not an institutional shareholder...

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    • "This blatant overreach by the federal government to seize all of the companies' profits at the expense of the companies and all of their private investors is unlawful and must be stopped,"

      they changed the rules in 2012...when thy saw the possible cash...

      Have F&F have paid more than their share to the gvnt for the bail out.? How much more.

      There was a fool article last week..kind of explained it..

      • 1 Reply to cybersecretary_usa
      • Fannie and Freddie together have borrowed $187.5 billion in bailout funds from the Treasury, and to date have paid Treasury $132 billion in dividends.

        The problem is that Treasury has not allowed the $132 billion to be used as repayment. Imagine closing on a mortgage at a 10% interest rate, only to be told a week before the first payment is due that the bank was changing the terms, and that your entire mortgage payments, including principal, would only be credited as interest, and you could never pay down your principle!!

        Sentiment: Hold

    • Not to worry as I believe there will be more lawsuits to follow....some of which will be seeking damages. What the government has done is no difference than old, common loan sharking which has ben illegal for a long time.

 
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