Fannie Mae

Tyler Durden's picture

3% Downpayment FHA Loans Surge As Subprime Buyers Are Back In The Housing Market





Americans across the country have been priced out of the U.S. housing market since the “recovery” began due to a combination of factors; stagnant wages, private equity purchases and money laundering foreigners. As such, many potential first time buyers have been sidelined despite the availability of meager 3% downpayment loans from the FHA as well as Fannie Mae and Freddie Mac. Fortunately for the U.S. ponzi scheme economy, the U.S. government has a solution. Lower mortgage insurance premiums.

 
Tyler Durden's picture

'Bankrupt' Mortgage Lenders Unveil The Zero-Money-Down "Friends-And-Family" Mortgage





Ripping straight from the pages of the "those who failed to learn from history are doomed... period" book of centrally-planned desperation to maintain American Dream 'wealth' by unsustainably levitating home prices, the government's bankruptcy mortgage guarantors have just announced "HomeReady Mortgages." These so-called 'enhanced affordable lending products - provided by the US taxpayer - enable 97%-plus Loan-to-Value loans to borrowers based not on their income (which is too low) but on "non-borrowers" like extended family or children! "Whatever it takes" to maintain the illusion of normalcy and hand out more money just reached peak Einsteinian insanity.

 
Tyler Durden's picture

The Stench Of Freddie Mac Is Back - An $18 Billion Spree Of Crony Capitalist Thievery





Washington’s capacity to foster crony capitalist larceny and corruption never ceases to amaze. But as we recently noted, Wall Street’s shameless thievery from US taxpayers is about to get a whole new definition.

 
Tyler Durden's picture

The End Of The Fed's Self-Deluding Feedback Loop Of False Information





The world is bankrupt after thirty years of borrowing from the future to throw a party in the present, and the authorities can’t acknowledge that. But they can provide the conditions for disguising it, especially in the statistical hall of mirrors that once-upon-a-time produced meaningful signals for the movement of capital. The Dow, the S&P, and the NASDAQ are the only signaling mechanisms that the legacy media pays attention to, and the politicos take their cues from them, in a feedback loop of false information that begets more delusional positive psychology in those same markets.

 
Tyler Durden's picture

The Most Devious Liars In The Room





There were a few different stories coming out over the last few days that reveal the true nature of government and the apparatchiks who use disinformation, devious machinations, fraudulent accounting, and taxpayer money to cover up their criminality, lies, and the true state of the American economy. The use of government accounting tricks to obscure the truth about our dire financial straits is designed to keep the masses sedated and confused.

 
Tyler Durden's picture

FHFA Head Warns Fannie Mae, Freddie Mac May Need Another Taxpayer Bailout





Yesterday, we learned that Fannie Mae recently rolled out a new program known as “Home Ready,” which would allow borrowers to obtain a 3% downpayment mortgage with no minimum cash contribution. Now we learn this...

 
Tyler Durden's picture

Complacency Reigns At Epic Levels: "Few Are Ready For What Is Coming"





Accounting fraud remains at the heart of the fix instituted by Ben Bernanke and the ploy has been copied by authorities throughout the global financial system, including the central banks of China, Japan, and the European Community. That it seemed to work for the past seven years in propping up global finance has given too many people the dangerous conviction that reality is optional in economic relations. The recovery of equity markets from the disturbances of August has apparently convinced the market players that stocks are invincible. Complacency reigns at epic levels. Few are ready for what is coming.

 
Tyler Durden's picture

Getting History Right - Saving Capitalism From Monetary Mismanagement





Capitalism isn’t – wasn’t – the problem. The culprit instead was unsound finance and deeply flawed monetary management. In short, Capitalism cannot function effectively within a backdrop of unfettered cheap finance. Things appear miraculous during the boom, and then the bust discombobulates. Contemporary central bank rate administration essentially abandoned the self-adjusting and regulating market system for determining the price of finance – so fundamental to Capitalism.

 
Tyler Durden's picture

The Phrase That Launches Recessions





“It feels like someone just flipped the switch to ‘off’ without any concrete reasoning,” one of the executives commented.

 
Tim Knight from Slope of Hope's picture

Palo Alto Outdoes Itself





She's a block away from the ghost of Steve Jobs. It's a lovely neighbhorhood, to be sure. But...........thirty million dollars???

 
Tyler Durden's picture

Austrian Economics, Monetary Freedom, & America's Economic Roller-Coaster





It is time for a radical denationalization of money, a privatization of the monetary and banking system through a separation of government from money and all forms of financial intermediation. That is the pathway to ending the cycles of booms and busts, and creating the market-based institutional framework for sustainable economic growth and betterment. It is time for monetary freedom to replace the out-of-date belief in government monetary central planning.

 
Syndicate content
Do NOT follow this link or you will be banned from the site!