Fannie Mae seeks $8.5 billion more in federal aid

[Cancel 2018. 3]

Fannie Mae seeks $8.5 billion more in federal aid

WASHINGTON — Fannie Mae asked the government Friday for an additional $8.5 billion in aid after declining home prices caused more defaults on loans guaranteed by the mortgage giant.

The company said it lost $8.7 billion in the first three months of the year. Those losses led Fannie to request more than three times the federal aid it sought in the previous quarter. The total cost of rescuing the government-controlled mortgage buyer is nearing $100 billion — the most expensive bailout of a single company.

Combined with the bailout of sibling company Freddie Mac, the government expects their rescue to cost taxpayers about $259 billion. That money will cover the mortgage giants' losses on soured loans made in the midst of the housing bubble.

http://www.usatoday.com/money/economy/housing/2011-05-06-fannie-mae-seeks-aid_n.htm

unbelievable...and the dems chanted repeatedly how there are no problems with these orgs

 

[Guns Guns Guns]

On what he declared was the "greatest triumph" of his Presidential exploration campaign, Donald Trump declared that his efforts were vital to the killing of Osama Bin Laden.


"Today I am even more proud of myself than I was last week," said a beaming Trump in front of his red and black helicopter emblazoned with the word TRUMP, he had landed in Times Square during last night's celebrations injuring at least ten revelers. "It is unambiguously clear that my push to have President Obama reveal what he claims to be his official birth certificate freed our country to return to the important business of catching up with Bin Laden. In no way am I disavowing the significant role our courageous military played in the successful operation. I just think the record needs to show that without my commitment to finding the truth, we may have never given our brave men the opportunity to do their job."


Trump gave additional credit to what he called "a considerable team of investigators" that he had enlisted to scour the Pakistan landscape to find out what President Obama was not doing to capture the terrorist leader behind the 9-11 attacks.


"You will be shocked at what my investigators have uncovered," said Trump with the name TRUMP, emblazoned across the side of his hair. "It's no secret that everyone, including the President, knew what Bin Laden looked like," said Trump holding up a picture of Bin Laden. "Yet we still don't know what Obama's college transcripts look like. What else is this guy hiding?"

 

[Cancel 2018. 3]

On what he declared was the "greatest triumph" of his Presidential exploration campaign, Donald Trump declared that his efforts were vital to the killing of Osama Bin Laden.


"Today I am even more proud of myself than I was last week," said a beaming Trump in front of his red and black helicopter emblazoned with the word TRUMP, he had landed in Times Square during last night's celebrations injuring at least ten revelers. "It is unambiguously clear that my push to have President Obama reveal what he claims to be his official birth certificate freed our country to return to the important business of catching up with Bin Laden. In no way am I disavowing the significant role our courageous military played in the successful operation. I just think the record needs to show that without my commitment to finding the truth, we may have never given our brave men the opportunity to do their job."


Trump gave additional credit to what he called "a considerable team of investigators" that he had enlisted to scour the Pakistan landscape to find out what President Obama was not doing to capture the terrorist leader behind the 9-11 attacks.


"You will be shocked at what my investigators have uncovered," said Trump with the name TRUMP, emblazoned across the side of his hair. "It's no secret that everyone, including the President, knew what Bin Laden looked like," said Trump holding up a picture of Bin Laden. "Yet we still don't know what Obama's college transcripts look like. What else is this guy hiding?"

thanks for trolling this thread legion troll....how many times are you going to talk about that thread in forum? 1000? seriously, get a life, no one sane and normal could be that happy over that...

 

[Rune]

How would you know what is sane and normal Yurtfreak?

 

[Cancel 2018. 3]

if legion and dune are not the same people....they must be boyfriend and boyfriend because they both act identical and have the same obsession over dear ol' yurt

 

[Cancel 2018. 3]

On what he declared was the "greatest triumph" of his Presidential exploration campaign, Donald Trump declared that his efforts were vital to the killing of Osama Bin Laden.


"Today I am even more proud of myself than I was last week," said a beaming Trump in front of his red and black helicopter emblazoned with the word TRUMP, he had landed in Times Square during last night's celebrations injuring at least ten revelers. "It is unambiguously clear that my push to have President Obama reveal what he claims to be his official birth certificate freed our country to return to the important business of catching up with Bin Laden. In no way am I disavowing the significant role our courageous military played in the successful operation. I just think the record needs to show that without my commitment to finding the truth, we may have never given our brave men the opportunity to do their job."


Trump gave additional credit to what he called "a considerable team of investigators" that he had enlisted to scour the Pakistan landscape to find out what President Obama was not doing to capture the terrorist leader behind the 9-11 attacks.


"You will be shocked at what my investigators have uncovered," said Trump with the name TRUMP, emblazoned across the side of his hair. "It's no secret that everyone, including the President, knew what Bin Laden looked like," said Trump holding up a picture of Bin Laden. "Yet we still don't know what Obama's college transcripts look like. What else is this guy hiding?"

On what he declared was the "greatest triumph" of his Presidential exploration campaign, Donald Trump declared that his efforts were vital to the killing of Osama Bin Laden.


"Today I am even more proud of myself than I was last week," said a beaming Trump in front of his red and black helicopter emblazoned with the word TRUMP, he had landed in Times Square during last night's celebrations injuring at least ten revelers. "It is unambiguously clear that my push to have President Obama reveal what he claims to be his official birth certificate freed our country to return to the important business of catching up with Bin Laden. In no way am I disavowing the significant role our courageous military played in the successful operation. I just think the record needs to show that without my commitment to finding the truth, we may have never given our brave men the opportunity to do their job."


Trump gave additional credit to what he called "a considerable team of investigators" that he had enlisted to scour the Pakistan landscape to find out what President Obama was not doing to capture the terrorist leader behind the 9-11 attacks.


"You will be shocked at what my investigators have uncovered," said Trump with the name TRUMP, emblazoned across the side of his hair. "It's no secret that everyone, including the President, knew what Bin Laden looked like," said Trump holding up a picture of Bin Laden. "Yet we still don't know what Obama's college transcripts look like. What else is this guy hiding?"

OBSESSION

life, get one

 

[Guns Guns Guns]

On what he declared was the "greatest triumph" of his Presidential exploration campaign, Donald Trump declared that his efforts were vital to the killing of Osama Bin Laden.​

"Today I am even more proud of myself than I was last week," said a beaming Trump in front of his red and black helicopter emblazoned with the word TRUMP, he had landed in Times Square during last night's celebrations injuring at least ten revelers. "It is unambiguously clear that my push to have President Obama reveal what he claims to be his official birth certificate freed our country to return to the important business of catching up with Bin Laden. In no way am I disavowing the significant role our courageous military played in the successful operation. I just think the record needs to show that without my commitment to finding the truth, we may have never given our brave men the opportunity to do their job."​

​

Trump gave additional credit to what he called "a considerable team of investigators" that he had enlisted to scour the Pakistan landscape to find out what President Obama was not doing to capture the terrorist leader behind the 9-11 attacks.​

​

"You will be shocked at what my investigators have uncovered," said Trump with the name TRUMP, emblazoned across the side of his hair. "It's no secret that everyone, including the President, knew what Bin Laden looked like," said Trump holding up a picture of Bin Laden. "Yet we still don't know what Obama's college transcripts look like. What else is this guy hiding?"​

Why not just claim you were 'joking', Yurtard?​

 

[Cancel 2018. 3]

On what he declared was the "greatest triumph" of his Presidential exploration campaign, Donald Trump declared that his efforts were vital to the killing of Osama Bin Laden.​

"Today I am even more proud of myself than I was last week," said a beaming Trump in front of his red and black helicopter emblazoned with the word TRUMP, he had landed in Times Square during last night's celebrations injuring at least ten revelers. "It is unambiguously clear that my push to have President Obama reveal what he claims to be his official birth certificate freed our country to return to the important business of catching up with Bin Laden. In no way am I disavowing the significant role our courageous military played in the successful operation. I just think the record needs to show that without my commitment to finding the truth, we may have never given our brave men the opportunity to do their job."​

​

Trump gave additional credit to what he called "a considerable team of investigators" that he had enlisted to scour the Pakistan landscape to find out what President Obama was not doing to capture the terrorist leader behind the 9-11 attacks.​

​

"You will be shocked at what my investigators have uncovered," said Trump with the name TRUMP, emblazoned across the side of his hair. "It's no secret that everyone, including the President, knew what Bin Laden looked like," said Trump holding up a picture of Bin Laden. "Yet we still don't know what Obama's college transcripts look like. What else is this guy hiding?"​

Why not just claim you were 'joking', Yurtard?​

because i wasn't joking there...you see...i admitted i fell for it because i skimmed it...that you're still obsessing over it shows what a pathetic loser you are. i seriously cannot believe anyone would be so overjoyed at someone making a mistake. you're a psychotic obsessive loser with no life legion who fell me for joking about another thread, yet you will gloat forever because i fell for one thing. what about your gullibility? oh yeah....you have no honesty or shame, that is why you hide behind proxy servers and make Yurt accounts at other political boards.

tff

 

[PostmodernProphet]

the sad thing is, we have no choice.....both Fanny and Freddy have the power to bind the US government to contracts guaranteeing mortgages......this isn't a bailout, this is a debt........

 

[Bfgrn]

Fannie Mae seeks $8.5 billion more in federal aid

WASHINGTON — Fannie Mae asked the government Friday for an additional $8.5 billion in aid after declining home prices caused more defaults on loans guaranteed by the mortgage giant.

The company said it lost $8.7 billion in the first three months of the year. Those losses led Fannie to request more than three times the federal aid it sought in the previous quarter. The total cost of rescuing the government-controlled mortgage buyer is nearing $100 billion — the most expensive bailout of a single company.

Combined with the bailout of sibling company Freddie Mac, the government expects their rescue to cost taxpayers about $259 billion. That money will cover the mortgage giants' losses on soured loans made in the midst of the housing bubble.

http://www.usatoday.com/money/economy/housing/2011-05-06-fannie-mae-seeks-aid_n.htm

unbelievable...and the dems chanted repeatedly how there are no problems with these orgs

Hey Yurt, here is your phrase for the day: Left holding the bag.


Fannie and Freddie buy home loans from banks and other lenders, package them into bonds with a guarantee against default and sell them to investors around the world.

When property values drop, homeowners default — either because they are unable to afford the payments or because they owe more than the property is worth. Because of the guarantees, Fannie and Freddie must pay for the losses.

Fannie Mae, based in Washington, and Freddie Mac, based in McLean, Va., own or guarantee about half of all mortgages in the U.S., or nearly 31 million home loans worth more than $5 trillion. Along with other federal agencies, they backed nearly 90 percent of new mortgages over the past year.

 

[apple0154]

Fannie Mae seeks $8.5 billion more in federal aid

WASHINGTON — Fannie Mae asked the government Friday for an additional $8.5 billion in aid after declining home prices caused more defaults on loans guaranteed by the mortgage giant.

The company said it lost $8.7 billion in the first three months of the year. Those losses led Fannie to request more than three times the federal aid it sought in the previous quarter. The total cost of rescuing the government-controlled mortgage buyer is nearing $100 billion — the most expensive bailout of a single company.

Combined with the bailout of sibling company Freddie Mac, the government expects their rescue to cost taxpayers about $259 billion. That money will cover the mortgage giants' losses on soured loans made in the midst of the housing bubble.

http://www.usatoday.com/money/economy/housing/2011-05-06-fannie-mae-seeks-aid_n.htm

unbelievable...and the dems chanted repeatedly how there are no problems with these orgs

8 billion. Peanuts! Just a drop in the proverbial ocean.

(Excerpt) The nonpartisan Congressional Budget Office (CBO) has estimated the cost of "prosecuting" a war against Iraq at up to $9 billion per month....(End)
http://usgovinfo.about.com/library/weekly/aairaqwarcost.htm

Get out of Iraq and they could bail out Fannie every month and still have plenty left over for cold beer.

Just think of all the people who could be helped. (Excerpt) Emergency Homeowners Loan Program. The new HUD program, the Emergency Homeowners Loan Program, will get $1 billion to provide interest-free emergency “bridge loans” to struggling homeowners who are at risk of foreclosure due to involuntary unemployment, underemployment, or a medical condition. These loans will provide distressed homeowners with as much as $50,000 a year for up to two years.

To be eligible for the Emergency Homeowners Loan Program, homeowners must be at least three months delinquent on their mortgage payments — but considered likely to be able to resume repaying their mortgage within two years — and must show a good repayment record prior to the event that resulted in their reduced income. The bridge loans can be used to help pay mortgage principal, interest, mortgage insurance, taxes, and hazard insurance. (End)
http://thinkdebtrelief.com/debt-rel...-foreclosure-to-get-3-billion-in-federal-aid/

$50,000 a year. Let's do the math. Iraq war: 9 billion a month times 12 months equals 108 billion/yr. Divide that by 50 thousand and we see that every year the money that's spent on the Iraq war could help 2,160,000 households. Every year. And that's assuming not one person out of 2 million ever pays back the loan.

The problem is not with paying taxes. The problem is what are those taxes spent on. Wouldn't it be nice to know that should one hit financial hardship the Feds would offer an interest-free loan to help them save their home?