http://www.fairloanrate.com/2009/09/03/mortgage-bankers-association-likely-to-split-up-fannie-mae-and-freddie-mac/ Student Loan, College Loan, Auto Loan, Credit Card, Mortgage, Personal Finanace Wed, 08 Feb 2012 15:15:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.fairloanrate.com/2009/09/03/mortgage-bankers-association-likely-to-split-up-fannie-mae-and-freddie-mac/comment-page-1/#comment-2054 Daedalus Sun, 06 Sep 2009 13:50:17 +0000 http://www.fairloanrate.com/2009/09/03/mortgage-bankers-association-likely-to-split-up-fannie-mae-and-freddie-mac/#comment-2054 Congratulations, America. You’ve blown up a system that got World investors to finance 70% of US home sales at near Treasury rates without direct federal subsidies. Now that Fannie/Freddie are gone the Mortgage Bankers Association is desperate to put taxpayers on the hook for 8 million home sales a year because the World's investors have wised up. Don't be fooled by the MBA plan. It's designed to give the biggest banks the power to slap federal guarantees on nearly any mortgage they want. The banks earns the profits, the taxpayer eats the losses. Congratulations, America. You’ve blown up a system that got World investors to finance 70% of US home sales at near Treasury rates without direct federal subsidies. Now that Fannie/Freddie are gone the Mortgage Bankers Association is desperate to put taxpayers on the hook for 8 million home sales a year because the World’s investors have wised up. Don’t be fooled by the MBA plan. It’s designed to give the biggest banks the power to slap federal guarantees on nearly any mortgage they want. The banks earns the profits, the taxpayer eats the losses.

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