Fannie Mae has reached a new low when it comes to ethics. I am one real estate broker who is fed-up with Fannie Mae.

I am also fed up with a federal government that keeps backing them. It’s time to shut-down Fannie Mae. They are either corrupt, inept or both.

Last week I received an addendum to a contract from Fannie Mae. It was blank with lots of spaces to be filled in. In fact, 15 pages of fill-in-the-blank. That’s great for school quizzes; not so great for contracts. Does Fannie Mae really expect people to initial and sign blank contracts?

Based on the previous purchase and sales agreement negotiated with Fannie Mae, I filled in the blanks. The catch is that Fannie Mae will negotiate terms of a contract but they do not sign the contract. They are government created and above professional business practices. They are just too important and too busy.

When this contract was returned signed by Fannie Mae, it contained numerous changes from the negotiated agreement. The instructions were for the buyers to initial and return. The buyers refused and within hours came to terms on another home.

Within 24 hours (Fannie Mae took two weeks) the selling bank’s addendums were presented. There were no blanks and the info in the addendum was the same as negotiated.

I have written my Congressman, Tom Rooney and appreciate that his office contacted me. I have the impression the Congressman agrees with my view of Fannie Mae. But, I have yet to see any action.

Congress needs to stop talking about how bad Fannie Mae is and just get rid of them. Parents are suppose to show tough love when their kids need it. Well US Congress, Fannie Mae is your child. Get tough or get out of office.