FHFA-OIG REPORT | Fannie Mae and Freddie Mac: Where the Taxpayers’ Money Went

Fannie Mae and Freddie Mac: Where the Taxpayers’ Money Went

U.S. government intervention protected the numerous creditors – both domestic and foreign – who had purchased bonds and MBS issued by Fannie Mae and Freddie Mac. Allowing the Enterprises to meet their debt and guarantee obligations enabled them to continue to support the secondary market. However, the cost of rescuing the Enterprises has been high, with total Treasury support for the Enterprises currently expected to range from a quarter to a third of a trillion dollars.

Full report below…

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4closureFraud.org

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Fannie Mae and Freddie Mac: Where the Taxpayers’ Money Went

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4 Responses to “FHFA-OIG REPORT | Fannie Mae and Freddie Mac: Where the Taxpayers’ Money Went”
  1. Once again someone that is paying attention has outlined what is going on, and to no avail! I do not understand why the accounts that carried our loans are protected and reembursed; however most homeowners are not. I can now see it doesn;t matter if you own one home or ten, every story is different however for those who thought they were getting 30 yr and didn;t? something was clearly wrong with that! I am sitting here with most paperworks to prove the game plan, and it doesn;t matter! I do support the state government taking the monies and fixing the state back up! why? because I have seen that the monies that are supose to help the homeowners most are fraudelent, so lets put it where it will help our states!! About too be thrown out of my third home/second foreclosure/1shortsale all was a forced issue, no one would assist with anything! Old news!! So much for 5 yr plans and whatever taxpayers who do not have a gaurenteed income during retirement is completely lost! And yes many are making out on this mess, even those that at first appeared to have lost their homes! what an absolute mess!!! they will only catch the little guy, everyone just continues on!!! I sure wish I had continued working 24/7 so I wouldn;t have ever found out how unfair our governments are! If I wasn;t so opposed to the other side, I wouldn;t even show up to vote!! idiots!!!like they do not know what is going on? pick on the little guy? give me a break!! just how and when are they supose to become homeowners again? oh that is right, we will let them rent their home back?? and some are just so happy to do this??

  2. Ali says:

    We never agreed to invest our home on the casino called Wall Street, instead of a 30 traditional fixed fate mortgage, (backed by the VA I might add) we discovered that the mortgage broker took out multiple loans on an over appaised property in addition to our 37,000 down. Its all right on the credit report, which we did not discover till years later. The FBI called this (Shotgunning), I am finding more and more people that this has happened to. These crimes commited are Federal offenses and should be prosecuted to the full extent of the law, not blessed by our goverment and put on the taxpayers bill. The frauds have already been disclosed and it is not because of “deadbeats” a term use to fool the public into believing that innocent victims of these frauds were the reason. Kinda like blaming the rape victem for the rape. I think all mony made on these unapproved loans should go to the owners of the homes who allowed the investors to make any money on other peoples property without their permission. Futhermore the tax payer who is also the de-frauded home home owner should enjoy the tax exemptness of the previous investors. We should not be paying investor losses on our home that we were de-frauded on. Hey, Obama, where’s that “Mortgage Fraud Task-force”? Why is it not fully funded and staffed, why is it not up and running? Why was a mortgage broker allowed to get away with de-frauding a veteran of his earned right to own his own modest home? Why won’t you answer these guestions? I suggest you do so because the people who got screwed are the people whose votes you need this coming election. Think about it, the judiciary is getting quite sick of this fraud also as well the frustration of white collar crime investigators. We will not stop till we are made whole.

  3. Star says:

    Everyone was rescued or protected – except the taxpayer.

    How nice!

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