Bill written by Countrywide exec! Countrywide found LIABLE by jury!
Google: Jury finds BofA's Countrywide liable for defrauding Fannie, Freddie . Countrywide was one of the major fraudsters that victimized Fannie and Freddie! Now they're trying to murder their victims, once and for all! This must not be allowed to stand! Fannie and Freddie did NOT cause the crisis! The mega fraudster big banks did! Less
In gods name I can't believe people still have the notion it was FNF's fault!! Wake up people, the BANKS are the ones who lent money out to every Tom, #$%$ & Harry and then turned around and sold the loans to FNF with out disclosing the poor quality of loans they were selling.
When Tom, #$%$ & Harry could not pay their mortgage anymore, the blame fell on Fannie, when it was ACTUALLY the BANKS WHO FAILED TO DISCLOSE THE POOR QUALITY.
Great read by Horowitz Court Forces Government to Release Documents in Fannie/Freddie Suit Submitted by Carl Horowitz on Fri, 07/25/2014 - 14:50 Printer-friendlyPrinter- friendlyEmail to friendEmail to friend The burden carried by the holders of stock in mortgage giants Fannie Mae and Freddie Mac, each operating for nearly six years under federal conservatorship, just got lighter. On July 16, U.S. Court of Federal Claims Judge Margaret Sweeney, in a procedural ruling, held that shareholder-plaintiffs in Fairholme Funds Inc. et al. v. United States are entitled to know material facts that the government wants to keep secret. The shareholders are seeking compensation for foregone income resulting from the Treasury Department's "sweep" rule of August 2012, which forced the companies to forward all dividends to the department in perpetuity. Government lawyers had filed a motion for a protective order on May 30 to inhibit discovery. The outcome of this case will hav...
TAKEAWAYS ON FANNIE, FREDDIE EARNINGS Mortgage giants Fannie Mae and Freddie Mac are sending $10.2 billion to the U.S. Treasury after reporting combined first-quarter profits of $9.3 billion. But Thursday’s earnings reports hinted at a possible cooling off in the profits of both companies, which have benefited from large one-time gains over the past several quarters. They also suggested a modestly softer housing demand. Here are five takeaways: 8 MAY 2014 6:17PM BY NICK TIMIRAOS CONNECT 1 BIG ONE TIME GAINS Share on Twitter Fannie reported pre-tax income of $7.9 billion, of which $4.1 billion came in legal settlements that aren’t likely to be repeated. Freddie reported pre-tax income of $5.8 billion, with $4.9 billion in legal settlements. In recent quarters, the companies have also benefited from a big rebound in home prices. The rebound has allowed them to release reserves as expected losses failed to materialize and to re...
if fanny is reformed as per government wishes he stand to gain by his wells fargo -so he goes.....Hew had the first call on many such crisis like Goldmans preferred etc he is not only connected via his moodys he get first all opportunity unlike us 1 Billionaire Weighs in Again on Fannie Mae and Freddie Mac By Patrick Morris | More Articles May 23, 2014 | Comments (6) Warren Buffett at Berkshire Hathaway has once again provided a unique and critical insight into what he believes is best for government-sponsored mortgage enterprises Fannie Mae ( NASDAQOTCBB: FNMA ) and Freddie Mac ( NASDAQOTCBB: FMCC ) . At the latest Berkshire Hathaway annual meeting, Buffett and longtime business partner Charlie Munger continued their tradition of conducting a question and answer session lasting more than six hours....
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