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Typical Crazy Government Math

According to the government, Fannie and Freddie either made $181 billion or they lost $19 billion.  Pretty close right?

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CompetitionOn today’s show we’ve got some very interesting information from a recent Gallup Poll regarding home ownership and what the public thinks about it.  We’ll let you tune in to see what’s up.  It’s great information for your marketing efforts so don’t miss it.  Also on the agenda is this whole matter of the government not being able to agree on what Fannie and Freddie has made, or cost, the American people.  On the one side their saying it’s come at a cost of $19 billion.  On the other side it’s come at a profit of $181 billion.  Only our American Government can come up with this stuff while keeping a straight face.  It’s math man.  Well there’s an angle that some have which would translate to a loss, but of course it’s total BS.  We’ll let you tune in and see for yourself.

With that you all have a great day and we’ll see you tomorrow.

Frank and Brian

Maxine Moves to Ruin the GSEs

Maxine Waters says she’s going to make a proposal to the Financial Services Committee to restructure the GSE’s so that the big banks carry the weight of the guarantee.

We are in a historic moment guys and gals.  Why?  Because Fannie Mae is about to cut a $7.2 billion dollar check to the Treasury which will pay off their bailout.  It’s a historic moment for other reason too but we’ll let you watch the show for the details.  But even thought the GSE’s are pretty much out of debt and setting record profits, bashing them is kind of the “in thing to do” on the Hill.

Maxine WatersSo Maxine Waters is going to get this party started by proposing a ridiculous idea that’s not going to fix anything.  What it will do is create more costs and higher rates for consumers and in the end if there ever is another mortgage collapse, the government will still have to come in and save the day with a bailout.  She needs to leave it alone.  What needs to be done is simply take the GSE’s out of conservatorship as we’ve been saying for many months now.

Alas, but no.  Nope, Maxine, who ruined the flood insurance industry is on a mission to ruin the GSE’s now as well.  Hopefully it won’t happen and someone, somewhere on the Hill will realize that this is a bad idea.  Hopefully someone up there will have the brain power to understand that the GSE’s have essentially already been reformed with all of the new policies, guidelines and procedures that have been put into place over the past few years and their profits prove it.

Why “force reform” something that’s basically already been reformed and is making more money than any other government backed or guaranteed agency since the beginning of our country?  Why?  Because Maxine wants too, that’s why.

Well you all have a wonderful day and we’ll see you tomorrow!  Please leave us your comments, forward, share and subscribe!

Frank and Brian

Man Gets $21 Million For Credit Reporting Errors

Yes a man that had credit reporting errors with his mortgage was awarded over $21 million dollars as restitution.

In your real estate news and mortgage news today we have a Military man who setup auto pay for his house payments so that he wouldn’t have any late payments while he was deployed.  Well, there was a problem and the payments were being reported late.  Naturally getting a servicing company to correct an issue like this can be a nightmare.

Millions of DollarsHis fear was not only that his credit would be affected, but that the issue might cause him to have problems with his military career.  So he sued the servicer.  Well, he won!  And justice was served.  Served to the tune of $21 million dollars!  Now look, I know how frustrating this kind of stuff can be and suing the company may have been the only option to get their attention.  We also get that there needs to be some compensation for the matter.  But $21 million dollars?  What do you guys think?  Let us know down below.

We’ve also got some new FHA guidelines for Manual Underwrites that you can check out by CLICKING HERE to get Letter 14-02.

And in other news, a real estate agent in Denver accused Fannie Mae of taking bribes and some other dirty business.  Well, suddenly she stopped getting Fannie Mae listings.  How strange right?  Now she’s suing them saying that the reason she’s not getting listings is because or her accusations.  Ya think?  The nerve of some companies.

Don’t miss our Listing Booster presentation tomorrow where we will show you an actual presentation to real estate agents.  You’ll see just how powerful the product really is.  You can register by CLICKING HERE.

And finally if you’re a manager or an owner of a mortgage company and you want to learn how Listing Booster can increase the sales or your originators, and see how easy it is to get a corporate account simply fill out the form down below.

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