Fannie, Freddie Could Need Another Bailout as Risks Rise

fannie freddie

Fannie, Freddie Could Need Another Bailout as Risks Rise

(Reuters) – U.S. housing finance companies Fannie Mae and Freddie Mac could require more bailouts from U.S. taxpayers as risks are rising due to shrinking reserves, an internal watchdog for the firms’ regulator said on Wednesday.

Washington bailed out the two firms in 2008 at the height of the financial crisis and has since seized all their quarterly profits while demanding the firms reduce their capital buffers.

“Future profitability is far from assured,” Federal Housing Finance Agency Office of Inspector General said in a report, pointing out that the firms could again chalk up losses on their derivatives portfolios, similar to those they reported in the fourth quarter.

“(This) increases the likelihood of additional Treasury investment,” the report stated.

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2 Responses to “Fannie, Freddie Could Need Another Bailout as Risks Rise”
  1. Patricia Ambrose says:

    I believe that my loan was obtained by fraud, the first mortgage company was Taylor Bean and Whitaker and I just found out that most of their CEO’s are in jail. Then Bank of America took the loan over, I was under the understanding that they owned the loan and asked for proof but never received it I only received heart ache and grief. I asked for help when we only one month behind and got the run around. We tried everything and gave them all the paper work they requested only to get now where. I have all the original copies of the docs and all since then but I can not find any help. Now Carrington associates has taken over and I have given them all paper work they requested but still a run around only to find out they have no proof of ownership or permission to service the loan. The property has been with a Realtor three times for a short sale. In 2014 we went to the court house and waited to be seen by a judge only to be told it was dismissed without prejudge. We also signed papers for a leu of deed which never went through. When the bank said we had to be out of the house we moved but never heard from them until Carrington took over only to tell me they had none of the paperwork that I had sent so I sent it again. They say we have a lawyer which we do not I also sent them that paperwork but again they find excuses. Because of all this run around we now owe around $50,000 back when this could of been taken care of way back in 2011 when it started. Now we are facing all this debt but no money. I am retired, disabled and my husband lost his job. We just want out of this whole mess anyone have any idea’s.

    Pat

    ceo

    • BOBBI SWANN says:

      Pat – what I don’t understand is why you moved out of your home? If you had a dismissal without prejudice it is usually because the lender could not PROVE the debt. It is obviouse from your post that they could not provide proper chain of title and ownership of the note/mortgage from TB&W. Highly doubtful that they will re-file again and if so, I would be willing to bet that you can prove they are committing fraud and using robo signed paperwork to do so. If you are upside down in your house (meaning you owe more than it’s worth) I would have stayed in the house and saved my money. You need to move back into your home and reclaim your property and save the money you are now paying out….

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