fanny mae

[deejeff442]

heres a good one.i got out of a lease purchase home.decided not to buy it.well the owner i guess couldnt pay for it so it went to foreclosure.sold at auction and bought by fanny mae.now how the hell does fanny mae have money to spend at auctions when we the tax payers bailed them out for giving bad loans?now the house sits empty from our tax money.good old barney frank.

 

[cranberry]

Who was the original lender?

 

[deejeff442]

bank of america.the house was sold at auction on the steps of the county courthouse.

 

[reefraff]

Fanny mae also owns a exchange for trading carbon credits and bought the patent rights for a simple power outlet plug one of their employees designed. They let the patent expire because it was a worthless item, something like those outlet covers to child proof an outlet. They said they bought the patent to give their employees the motivation to be innovative.

 

[ironeagle2006]

My Mortage is thru my local bank. However the Bonds used to Secure it are from Fanne Mae. See what alot of people do not realize is that Fanne and Freddie get their hands in about 90% of all Mortages issued in the USA. However because of Barney Frank Chirs Dodd when they rewrote the CRRA they are not required to have the same amount of Capitalization as a Normal Bank since they are a GSE. Well that and Barney was getting very Personal Favors from IIRC the COO of Freddie Mae. It was these 2 IDIOTS that blocked George Bush from reigning Freddie and Fannie and their NINJA Mortages along with the Subprime crap that led to the Banking Meltdown. Yet who do they love to blame BUSH.