NY Times | Treasury Investigates Freddie Mac Investment

Treasury Investigates Freddie Mac Investment

The Treasury Department is investigating a report that Freddie Mac, the mortgage giant, bet against homeowners’ ability to refinance their loans even as it was making it more difficult for them to do so, Jay Carney, a White House spokesman, said on Monday.

The report came just as the Obama administration had been escalating its efforts to push Fannie Mae and Freddie Mac to ease conditions for homeowners, including those who owe more on their mortgages than their homes are worth.

Last Friday, the Treasury announced that it would offer increased incentives to lenders to forgive portions of homeowner debt, saying pointedly that for the first time the incentives would be offered on loans held by Fannie and Freddie.

But Fannie and Freddie, which said they would review the increased incentives, have long declined to allow debt reduction on the loans it holds or guarantees, saying that it would create unnecessary losses for taxpayers. The companies, which are financed by taxpayers, have also maintained barriers to refinancing, like risk-based fees for homeowners, even as mortgage interest rates have dropped below 4 percent.

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Comments
7 Responses to “NY Times | Treasury Investigates Freddie Mac Investment”
  1. Ali says:

    After all the hoops I jumped through with the paperwork fiasco, I have recieved via Fed Ex all the paperwork to start a modification again. Unbelievable, right? I’d have to be out of my mind to send them anything again. Just proves to me that they do not have what they need to scew me over again!!!!

  2. Pamela Edwards says:

    If we fail so do they!!How stupid to bet against the people that are making you money.This is not “what happens in Vegas stays in Vegas”this was supposed to be the American dream.Some dream the reality is it has turned into a nightmare and now they are betting against us.Really?Imagine that!!Who would’ve thought?stupid ,ignorant useless,spinrless parasites one and all.Take them out!!

  3. gregory says:

    SCAMMERS, SCAMMERS,SCAMMERS, Anyone who had anything to do with this type of behavior belongs hung on the nearest tree. Betting on Americans to fail is TREASON>

  4. lvent says:

    They all have a sick gambling problem…! That is why we are all here! Not because people bought homes they could not afford..Only 20% of the loans were so called liars loans though in reality they were ALL liars loans because, they NEVER LENT US ANY MONEY..! The homes were paid for by the U.S. TAXPAYERS who funded their whole scam… all they really did was oversell interests in the notes, exponentionally and gamble on that set up to fail….! EVIL!!! ..None of the homes were their collateral to gamble with in the first place and all of their evil asses should be in prison! They may have been given permission to sell the LOANS…THE ENTIRE LOANS OVER AND OVER…..BUT, THEY WERE NOT SUPPOSED TO SELL INTERESTS IN THE NOTES HUNDREDS AND HUNDREDS OF TIMES PER NOTE! THAT IS PRECISELY WHY THEIR DEBT CAN NEVER BE REPAID! THAT FACT IS WHAT IS BEING COVERED UP…THEY NEVER SOLD THE LOANS..JUST INTERESTS IN THE NOTES…AND THAT IS SECURITIES FRAUD…THE NOTES WERE NOT SECURED TO THE MORTGAGES BECA– USE OF WHAT THEY DID…THAT US SECURITIES FRAUD AMONG OTHER FRAUDS…THAT ALLOWED THEM TO COMMIT $700 TRILLION DOLLARS IN COLLATERAL MORTGAGE FRAUD BY BIFURCATING THE MORTGAGE AND THE NOTE UNDER THE RADAR..BECA– USE OF THAT THE FRAUD, THEY NULLIFIED THE MORTGAGE CONTRACT AND OUR HOMES ARE PAID FOR! ANY ACT OF FRAUD IN A LEGAL CONTRACT, NULLIFIES THE LEGAL CONTRACT…THEY MADE HUNDREDS OF TRILLIONS OFF OF THAT FRAUD AND GAMBLING ON EVERY ASPECT OF LOANS THEY NEVER SOLD! THERE IS NO WAY TO REFI OR MODIFY THEIR UNSUSTAINABLE DEBT…THEREFORE, THEY MUST RESCIND…! CLEAR TITLE BACK TO THE HOMEOWNERS! WE WERE NOT TOLD THEY WERE SELLING INTERESTS IN OUR NOTES HUNDREDS OF TIMES PER NOTE AND SETTING OUR LOANS UP TO FAIL……! THAT IS WHAT PUT THE LIE IN THE FRAUDULENTLY INDUCED LOANS…THAT IS CRIMINAL….INCONSCIENABLE …UNFAIR DEALING…DECEPTIVE PRACTICES…YOU NAME IT…THEY DID IT…AND IT ABSOLUTELY WAS NOT ONLY CRIMINAL BUT AS THE HORRIBLE ECONOMY PROVES…HIGHLY DESTRUCTIVE….MEANT TO DO PERMANENT HARM…..! A TICKING TIME BOMB WAITING TO BE DETONATED…NO ONE SHOULD SEND THESE CROOKS ANOTHER DIME!

    • lvent says:

      Taking the term liars loans to mean bad loans to people who did not have the income to afford the home. What they really did was create to much debt off of every sinlgle note…! Unsustainable debt..debt they KNEW could never repaid and they gambled on our doom that they created, and insured themselves on our failure and so did their investors as the documentary inside job revealed!

  5. Louis Creed says:

    Justice/FBI need to investigate origination fraud.

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