fannie mae: Predictions for Future Real Estate Markets
- 04/07/17 06:47 AM
Recently, a Chief Economist of Fannie Mae, who was speaking at a conference. Many are not aware that Fannie Mae is a quasi-government agency that is heavily involved in the US housing sector. The economist was asked "what do you think of US housing right now?" He answered: “It’s overpriced.” His presentation went DEEP into the data, showing that US housing is “late in the cycle,” meaning that prices may soon reach their peaks and then suffer a substantial correction. Property prices nationwide across the United States have been rising at a much more rapid rate than wages and salaries. This is totally unsustainable. A number … (1 comments)
fannie mae: Something Old is Something New Again (Deeds in Lieu)
- 12/01/12 08:12 AM
Something old is something new again. There is one thing that I say ad nauseum…that distressed real estate is cyclical. If loan modifications are an option today, they will not be in the future but they will become an option later. This has certainly been true of Deeds in Lieu (DILs). Deeds in Lieu have not been much of an option since early 2010. However Fannie Mae is changing the process a bit and this may help many home owners. The GSE hopes that the new requirements for deed-in-lieu transactions will actually create more exit options for borrowers and has … (2 comments)
fannie mae: Real Estate Buyers to Pay for Payroll Tax Extension
- 12/26/11 04:59 PM
Real Estate Buyers to Pay for Payroll Tax Extension. The payroll tax cut extension affects all future home owners and real estate agents. Most of the public is unaware that Senate Democrats will raise loan guarantee fees 0.10 percentage points to fund the extension of payroll tax reductions. A remporary extension results in a PERMANENT fee increase. Business as usual in Washington. The increasingly vitriolic debate over whether or not to extend a payroll tax cut and jobless benefits for two months has dominated the news recently, but no one seems to be factoring in that the $33 billion-cost for the … (10 comments)
fannie mae: New GSE Short Sale Guidelines...More Out of Touch B.S. from the Government
- 11/22/11 06:28 AM
According to Realtor Magazine a product of realtor.com, Fannie Mae and Freddie Mac will be implementing new short sale guidelines after the first of the year. It appears that everyone involved in a short sale will be liable for “negligent or intentional misrepresentations in the transaction” and will have to sign affidavits stating that they are handling the transaction to federal standards. The addition of the affidavits to the short sale process is designed to help everyone involved in the short sale “identify potential mortgage fraud and [have] a clearer understanding of the intent of all parties involved in the … (27 comments)
fannie mae: Fannie Mac and Freddie Mac Foreclosure Homes for Sale
- 07/03/11 07:55 PM
I have a client in Boston and he has been softly looking for a second home in a warmer climate. He referred me to the Fannie Mae and Freddie Mac websites and highlighted a few homes. He wanted my opinion on value. He thought that some of the prices seemed high and he wanted to compare the prices on the Fannie & Freddie sites versus other foreclosures in the respective areas. I looked at the subject homes...they were in Arizona and Florida. There were two things that immediately struck me as odd. The first is that there were not many … (1 comments)
fannie mae: Fannie Mae & Freddie Mac New Foreclosure Guidelines
- 06/09/11 08:58 AM
Fannie Mae and Freddie Mac have received a new set of directives from the Federal Housing Finance Agency (FHFA) concerning their foreclosure process. The FHFA directives are designed to help the government-controlled GSEs manage their foreclosure processes in a timelier, less “painful” fashion. FHFA hopes to establish a “clear and consistent time frame to complete the foreclosure process” as well as standardized requirements for determining fees.
Once the rules go into effect, GSE loan servicers must not exceed the number of days in the time frame for foreclosures. The time frame can be determined by factoring in a number of … (0 comments)
fannie mae: Legislation Introduced to End Taxpayer Funding of Fannie Mae & Freddie Mac
- 04/05/11 10:14 PM
Government-controlled Fannie Mae and Freddie Mac may soon have to find a different source of funding if Republican congressmen get their way. They have drawn over $150 BILLION in taxpayer support!! Senators John McCain (R-AZ) and Orrin Hatch (R-UT) introduced legislation yesterday that would permanently end federal support for the GSEs. The bill, called the GSE Bailout Elimination and Taxpayer Protection Act is the Senate companion to similar House legislation (HR 1182) introduced by Spencer Bachus (R-AL) and Jeb Hensarling (R-TX). The bill is intended to end the GSE’s federal conservatorship within two years and accelerate the timeline for privatization. … (2 comments)
fannie mae: Isn't this Special about Fannie and Freddie
- 03/10/11 12:09 AM
As if it is not bad enough that taxpayer money (in the amount of more than $100 million) is being used to defend Fannie Mae executives accused of accounting fraud, taxpayers stand to be on the hook for the damages if those executives are convicted. Investors who are suing government-controlled Fannie Mae for the losses that they sustained due to “alleged corporate mismanagement [and] shareholder feuds” are demanding billions in compensation. If Fannie Mae loses, the government has to pay up – and that means the taxpayers have to pay up as well. Randy Neugebauer (R-TX), calls the situation a catch-22, … (4 comments)
fannie mae: Federal Govt as part of the real Estate Problem
- 02/17/11 05:03 PM
Finally, the Federal government is asking itself whether it is helping the industry or hurting it. Yesterday the House of Representatives held a hearing to “examine private sector involvement in the housing market in order to determine if the high amount of government participation is a hindrance to the sector’s recovery.” They concluded that there is probably too much government support in the industry. Currently, the FHA, Fannie Mae and Freddie Mac together share in more than 90 percent of the mortgage market while the FHA is supporting nearly a quarter of the multifamily rental market. David Stevens, FHA commissioner, … (4 comments)
Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement
Recently, a Chief Economist of Fannie Mae, who was speaking at a conference. Many are not aware that Fannie Mae is a quasi-government agency that is heavily involved in the US housing sector. 
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