Look through President Barack Obama’s proposed 2011 budget, and you’ll see a line calling for a 5 million increase in the Justice Department’s funding to fight financial fraud. Lucky for them, the people who wrote the budget can’t be prosecuted for cooking the government’s books.

Whether on Wall Street or in Washington, the biggest frauds often are the perfectly legal ones hidden in broad daylight. And in terms of dollars, it would be hard to top the accounting scam that Obama’s budget wonks are trying to pull off now.

The ploy here is simple. They are keeping Fannie Mae and Freddie Mac off the government’s balance sheet and out of the federal budget, along with their .6 trillion of corporate debt and .7 trillion of mortgage obligations. Together that equals 6.3 trillion unaccountable in his budget.
http://www.bloomberg.com/apps/news?pid=20601039&sid=a.G6KFfaDdSc

I’m trying to buy my mothers house. She was foreclosed on and the bank now has ownership of the house. She has taken up residence in my grandparents old house so she has no interest in the house I’m buying.

Fannie Mae has decided to deny my loan because they say I am bailing out my mother from her foreclosure. Is there anything I can provide or tell them that is not the case, that the house is for me and not my mother?

http://www.bloomberg.com/apps/news?pid=20601087&sid=alet_UTqF04M

Fannie Mae gave out hundreds of millions in Bonuses last year, for exactly what managing to obtain 10 straight quarters of loses?

Where is his outrage? Will the Democratic Socialist threaten special taxes to recover the bonuses?

In your experience, what would be a reasonable offer based on the following statistics.
List Price: 4900
Comps: 7900
Costs for repairs will be approximately: 00
According to website, Fannie Mae acquired property for 8000

We were thinking 4,000.

The four largest recipients of political donations by Fannie Mae and Freddie Mac from 1989 through 2008 were Sen. Chris Dodd (3,900), Sen. John Kerry (1,000), President Barack Obama (5,849), and Secretary of State Hillary Clinton (,550).

We’re making an offer on a Fannie Mae owned house, but it was REALLY cheap and in a great neighborhood and in good condition. No one was interested in it. Is this just a really lucky find that fell through the cracks, or are they not telling us something…?
Oh and we got an inspection and have been in contact with the police department as to the neighborhood. Everything checks out.

Fannie Mae has some 70K homes they have foreclosed on and own outright, but only public entity’s can purchase POOLS of these homes.. Doesn’t make since, objective shouldn’t be different because of a corporate status. I represent a large P/E group with over B to deploy in distressed real estate acquisitions and can’t get in front of Fannie Mae to help them unload this toxic inventory, crazy!

These two GSE’s lost 0 billion in 2009.

Why does the tax payer have to fork over multi-million dollar **bonuses** on top of that??

http://www.fitsnews.com/2009/12/24/big-bonuses-for-fannie-freddie-ceos/

The CEO’s of government-owned mortgage giants Fannie Mae and Freddie Mac could receive executive compensation packages totaling as much as million, according to documents filed with financial regulators Thursday.

Another ten employees at the two government agencies are in line for bonuses totaling million.

Together, Fannie and Freddie have availed themselves of over 0 billion in federal bailout cash since they were seized by the government fifteen months ago.
http://www.reuters.com/article/idUSWBT01345620091224

http://www.reuters.com/article/idUSTRE5BN2ZI20091224

WASHINGTON (Reuters) – The Obama administration pledged on Thursday to back beleaguered mortgage finance giants Fannie Mae and Freddie Mac no matter how big their losses may be in the next three years.
America’s Sweetheart…."Because they are not Government owned."

Then how would you describe a relationship in which the GOVT eats ALL the losses?

Please tell me what should I do with my fannie mae stock, it came down a lot, should I just sell it and take a lost, or just keep and wait to see? I worry it may go down to o.

Fannie Mae, Freddie Mac, AIG, Lehman Bros, Bear Stearns… clearly this mess was caused by lax oversight based upon the policies of a republican president and repub congress early in this decade.

Now we’re supposed to trust McCain with healthcare???

We tried to refinance our mortgage thru the Make Your Home Affordable Plan but were told that since Fannie Mae held the servicing we had to have enough income to qualify plus our income to debt ratio had to be low….but if the servicing was held thru Freddie Mac we would not have meet those requirements. The mortgage company said the Fannie Mae would eventually follow suit….but when?? Does anyone know?

There are homes that I see that say this in the description "Fannie Mae HomePath Property". What does this mean?

"WASHINGTON – The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation’s mortgage debt, a person briefed on the matter said Friday night. " AP

If a person has a mortgage backed by Fannie or Freddie, does this affect them? Would it affect a homeowners ability to refinance through the FHA streamline refinance program?
Thanks!

How come we only here about AIG and not Fannie Mae and Freddie Mac

"Obama has been one of the largest recipients of campaign contributions from donors associated with Fannie Mae and Freddie Mac, receiving 5849 "
http://www.house.gov/feeney/newsitems/080719mccain.html
correction: receive

Will fannie mae and freddie mac go into bankruptcy? If so what happens to the company’s stocks and stockholders? I thought that since they were receiving bailout money it would be very hard for them to file bankruptcy. Is it a good time to buy shares of this company with them being sooooooo low? Please explain and other companies to invest in would also be helpful.

A buyer is trying to qualify for a loan to purchase my listing. The lender is asking if the home owner association is Fannie Mae insured. I personally never heard of a HOA being Fannie Mae insured. Anyone one know what this means? Even the HOA has no idea what the lender is asking.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

In contrast, McCain warned of the coming mortgage crisis as he pressed in 2005 for regulatory reform of Fannie Mae and Freddie Mac. McCain pointed out Fannie Mae’s regulator had stated the company’s quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company’s senior management, which resulted in a .6 billion accounting scandal.

HI guys now government has taken over Fannie mae and freddie mac with taxpayers’ money.. will they sell them back to private sector and return money to taxpayers when they again function well?

he told the president all was fine then we all know what happend.could it be because his lover was working for fannie mae?

As I’m sure everyone knows, Fannie Mae took a big hit in the market today, down 40% at the opening, in my fantasy portfolio I bought it around .50, now its down 25% on the day and at .69. My question is, is it typical for stocks that open very high, or very low to gain or lose back a bit during the day

Find out if my loan is backed by Freddie Mack and Fannie Mae to see if I am eligible for the modification offered for loans backed by these programs. It is an FHA loan.

Fannie Mae’s former CEO and now Obama adviser, Franklin Raines made over 0 Million cooking the books of this Government oversight corporation while spending lavishly on democrat politicians as a lobbyist to get the democrat congress to change the rules that helped him make exorbitant wind-fall profits for himself.

It’s well known that the fall of Freddie and Fannie were the start of Wall Streets collapse.

How responsible was Obama’s adviser Franklin Raines, and should Obama fire him, or wait until he’s arrested?

I am trying to get help from Mortgage Relief program, one of the requirement is my loan or mortgage has to be owned by Fannie Mae or Freddie Mac. I called both of them and both say they don’t own my mortgage. Who else then? Is it regular bank? Wells Fargo has my mortgage loan

Anyone have any suggestions or tips for getting the best deal on a foreclosure from fannie mae? Is there any possible way to negotiate with them directly instead of the realtor? How flexible is fannie mae with prices? (the house im interested in is listed by the realtor for 25k but im sure would sell for much less in a county auction)