Posted by: cfigueira | March 11, 2010

Fannie Mae’s Buyback Plan; HARP Extended; Lock Desks Busier; RESPA vs. USPS; Rates to Rise 50bps

Posted To: Pipeline Press

“Daddy, Daddy! Help me!” I ran into my daughter’s room. It was obvious that she’d just woken up from a nightmare. She was shaking and bathed in sweat. “Daddy, it happened again – the dream. A man and a woman named Fannie and Freddie were after me. Fannie told me that I owed her $15 billion dollars. She said that I’d left off the middle initial on a 4506-T in 2003. I didn’t know what she meant, something about “contractual obligations”. And Freddie just stood there, grinning. They wanted all the money out of Swiss Pig, my piggy bank!” “Take it easy,” I told her. “Fannie and Freddie aren’t after you. They want the money from the investors, not from us taxpayers, and only if loans are delinquent. And the investors will go after the…(read more)

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