mae: What Happened to Fannie Mae?
- 04/03/10 01:23 PM
Like every other third party mortgage investor on the planet, Fannie Mae has had a rough time lately. When Wall Street finally stopped buying sub-prime loans, Fannie Mae found themselves holding millions of unsellable mortgages. Essentially they were left holding the bag. Was it greed that created this situation? That is too easy of an answer. The truth is the system was set up for people who are responsible for the increase in the value of a company, to keep up with their investors desires for ever growing profits as compared to their competition. In other words, they have to keep … (1 comments)
Michael Urbanski is the chief executive officer of Heavy Hammer, Inc., and USHUD.com. Headquartered in Annapolis, Michael oversees the online networking and consulting company advocating for American homebuyers, connecting them with trusted experts and valuable resources. Driving one of the most widely used suites of foreclosure Websites, Heavy Hammer delivers all-inclusive, free lists of foreclosure properties to more than 500,000 homebuyers monthly. In business since 1998, Heavy Hammer has focused on geographically-based ad serving technology and processes allowing thousands of professionals to target specific locations, connecting directly with consumers in specific locations. Starting with USHUD.com, this group of sites now includes more than 30 state- and region-specific sites.
Like every other third party mortgage investor on the planet, Fannie Mae has had a rough time lately. When Wall Street finally stopped buying sub-prime loans, Fannie Mae found themselves holding millions of unsellable mortgages. Essentially they were left holding the bag.
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