the treasury is the benefactor of the sweep! what would you expect them to say? We dont want the money and we were wrong? LOL I dont see this as news!
i dont have that data, I was using IMS all along. I gave up on IMS.
One thing is sure Symphony has always been lower numbers, so Id say they are worst case.
this is good for the projections going forward as the ims numbers are probably higher.
settle mortgage claims DOJ fhfa fannie mae
Take note of the heist being committed by YOUR government on its taxpayers( fannie shareholders)
here is my laws in my USA:
HERE IS THE LAW OF THE USA that trumps HERA and PSPA of treasury and FHFA:
fifth amendment: an overview
The Fifth Amendment of the U.S. Constitution provides,
"No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a grand jury, except in cases arising in the land or naval forces, or in the militia, when in actual service in time of war or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation."
Stegman said the Administration would not end the conservatorship of the GSEs without a viable alternative that provides that elusive balance between eliminating taxpayer risk while still allowing credit access.
"I know that many of you want to know where we are on housing finance reform," Stegman said. "On this subject, let me be clear: the Administration stands by our belief that the only way to responsibly end the conservatorship of Fannie Mae and Freddie Mac is through legislation that puts in place a sustainable housing finance system that has private capital at risk ahead of taxpayers, while preserving access to mortgage credit during severe downturns."
This will never happen. Private capital at risk ahead of government bailout while preserving access to mortgage credit during severe downturns. Never going to happen because the private model of PLS (private loan security) as run by the banks in 2008 still has not returned to the market and this is 2015 now. If the government does not want to backstop housing, then simply housing will take down the USA economically on next housing downturn. This is why FDR put Fannie in place decades ago. Private captal will leave at first hint of bad times and not return for a long, long time.
Ask yourself, how did the savings and loans do on the downturn? They went away and a huge bailout followed. This time is different Fannie Mae and Freddie Mac took on all the PLS problems onto their shoulders and their own problems and carried our country through the problem all the long paying back the bailout with a huge profit to the TAXPAYER!
Which seems like a better deal? Huge S&L bailout that NO ONE paid back and a system that went away with nothing but Fannie to fill the void OR the Fannie model that supported both the TBTF Banks in 2008 and S&L problem when there was NO WHERE TO TURN?
Fannie and Freddie WORK! Why would you change that? Why would you do away with 30 year fixed mortgages for 5 year Arms? Politicians
thank you. I dont worry about the yahoo boards, they move quick and I once posted here a lot, but its the wild west of shorts on here and so I blog instead.
DOJ settles Mortgage security Fraud with …. To be paid to Fannie Mae #fanniegate
#fanniegate the Facts! These banks and Investment Firms all paid to Fannie Mae and Freddie Mac for the Fraud they tried to get away with against Fannie and Freddie. Yet, our politicians keep blaming Fannie and Freddie (GSE’s) for being illegally tricked BY these banks! Who believes the Treasury and FHFA and these politicians when the lies don’t match the facts! Fannie and Freddie have not lost one case in court yet! Nor has either Fannie or Freddie paid out to any bank for the MBS that they bought! So who is the criminal? It certainly is not Fannie or Freddie, no matter what your congressman is telling you with a forked tongue.
Grand total paid out for bank fraud against Fannie and Freddie $100 billion dollars!!
Give this some thought when you think about the $188 billion that Fannie and Freddie needed to survive in 2008. Note the $100 billion was paid out around 10 cents on the dollar in settlements!
True defrauding by banks was around $1 Trillion dollars!! or $1000 billion if you want to think of it in billions, now compare the $1000 billion to the $188 billion. Brazen isn’t it!