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Getting Our Money Back from Fannie and Freddie

MariansMusings Wrote: Nov 28, 2012 11:56 PM
I should add that private mortgage insurance companies were effectively run out of town by Fannie and Freddie. Now we want them back? They should never have left in the first place. As far as surcharges are concerned, they are penalties assessed against the victims instead of the perpetrators. Case in point is the rising MIP fees on FHA and VA loans. As to real estate fees, they are typically split among 4 individuals, whose gasoline costs have doubled. Average sales per agent are around 2 to 3 per year. Few agents get rich and most of those do it buying and selling. Can't we reduce the outrageous salaries and bonuses of the officials at Fannie and Freddie for starters? & forbid anyone working there that has worked for a politician.

Yesterday in the New York Times, Josh Rosner, co-author of Reckless Endangerment, asked one of the questions that almost everyone in Washington is avoiding: how do the taxpayers get back their money, currently about $180 billion (including dividends), from Fannie Mae and Freddie Mac? Obviously Democrats do not want to be reminded that their social engineering of the mortgage market has been a disaster, but why have Republicans been quiet?

I suspect many Republicans, at least those not closely aligned with the real estate industry, are torn between wanting to immediately get rid of Fannie and Freddie and getting the...

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