Mr. Bowen writes, “Department of Justice (DOJ) has yet to prosecute any of the major players responsible for the 2008 financial crisis. I think we need to ask if bias was responsible here as well.”
Hopefully, folks are following “[T]heJustice Department’s reporton the FBI’s handling of the Clinton email scandal and other actions in advance of the 2016 election is already a political hot potato,” as Mr. Bowen begins his post.
If you are wondering why Fannie Mae and Freddie Mac (GSEs) are slithering through the swamp looking for a path to release them from the bondage of Conservatorship, let this Plaintiff GREEN TREE SERVICING LLC, amended to DITECH FINANCIAL, LLC case begin to open your eyes to the corruption racket behind scenes since 2008.
Illegal actions aren’t limited to just Green Tree. These are standard business practices among the banks, known – and it appears generally accepted by, the GSEs. Continue reading →
This will be one of several posts on the future of Fannie Mae and Freddie Mac. Your thoughts and your owns stories are welcome in the comments section.
Nearly a decade ago, in September 2008, US Treasury Chief Hank Paulson unveiled his historic government takeover of twin mortgage buyers, putting the government in charge of the mortgage giants and the $5 trillion in home loans they back. The plan eliminated the top executives which were out and replaced with Wall Street titans.
The House Oversight and Government Reform Committee held a hearing on the financial collapse of Fannie Mae and Freddie Mac, their takeover by the federal government and their role in the financial crisis. The video below is a 4 hour review of a planned response to the crisis in the housing and mortgage markets at the time of the economic meltdown and crash of 2008.
The titans that replaced Freddie CEO Richard Syron and Fannie CEO Daniel Mudd were two Wall Street finance veterans and were charged with restoring the mortgage magnates to health. Herb Allison formerly served as president of Merrill Lynch was Continue reading →
In May 2017, US Secretary of Treasury, Steve Mnuchin, confirmed GSE Sweeps May Have Funded Obamacare. The meaning of this significant confirmation went virtually unnoticed by homeowners, their attorneys, and lawmakers for several reasons. The top of the list is the mainstream media suppression.
No matter what side of the political aisle you stand on, if you are a homeowner in or facing foreclosure – or if you lost your home since 2008, or are an investor in the Government Sponsored Enterprises (GSE), Fannie and the Treasury Continue reading →
Bailed Out Fannie and Freddie Are Repaying Taxpayers? Answer: FALSE
In a recent Committee on Financial Services report the truth comes out about government sponsored Fannie and Freddie that foreclosure defense experts and “MERS Blur” researchers realized long ago… There is no way Fannie and Freddie can ever repay the bailout debt; and, they were at the helm of the mortgage Ponzi-like scam to the detriment of the American public.
By Shawn Timothy Newman, J.D.
Saint Martin’s University
In common parlance, a mortgage (or Deed of Trust) includes the underlying loan (promissory note) and the security on that loan (mortgage or Deed of Trust). This ignores the fact that the note and mortgage (or DOT) are two separate contracts governed by some different laws and legal principals.
As noted in Powell on Real Property, sec. 37.27  (Michael Allan Wolf ed., LexisNexis Matthew Bender 2010) Continue reading →
In an effort to appear hunky-dory for the APEC Summit embarking on its shores in November 2011, Honolulu city council wanted to pass legislation to be able to “dispose” of the belongings of street people, many of which are families that have been displaced by foreclosure – a growing number that has been largely ignored by state and federal governments. Continue reading →