https://4closurefraud.org/2012/09/17/fannie-mae-providing-an-alternative-to-income-verification-for-refis-reducing-documentation-for-income-and-assets/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Fri, 21 Sep 2012 14:31:08 +0000 hourly 1 https://wordpress.org/?v=7.0.2 https://4closurefraud.org/2012/09/17/fannie-mae-providing-an-alternative-to-income-verification-for-refis-reducing-documentation-for-income-and-assets/#comment-403130 Fri, 21 Sep 2012 14:31:08 +0000 https://4closurefraud.org/?p=53190#comment-403130 Okay, so I am a mortgage broker, licensed in the state of FL. I am fully aware of this program, along with a couple of others that came from Freddie Mac as well. I have to say – I don’t think these programs are good for the economy; nor do I think they will result in nothing more than a delay of the enevitable. Therefore, I don’t do them!! I look at it as a means for the gov’t owned Fannie/Freddie to rid themselves of the malfunctioning mortgages out there that are loaded with fraud by empowering the borrower (who usually does not know there is fraud or a break in title) to make the current mess go away by refinancing. And, let’s feed all of the (liquid and otherwise)assets to these gov’t entities, which was NEVER required outside of the monies needed to close + required reserves, so that when the delinquency occurs they have all of the information necessary to take it all AGAIN. I wish that more people would take the time to understand securitization, CDO’s, credit swaps & to understand the flow of money that created this ‘toxic’ dumpsite.

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