UN-FLIPPIN-BELIEVABLE

The CEO of Freddie Mac, Ed Haldeman, received a $2.3 million bonus, in addition to his $900,000 salary. Fannie Mae's CEO, Michael Williams, received a $2.37 million bonus.

"The executives got the bonuses about two years after the federally backed mortgage giants received nearly $170 billion in taxpayer bailouts…" [my emphasis] In August of this year, Fannie Mae reported a second-quarter loss of$5.2 billion. In November, Freddie Mac reported a third-quarter loss of $4.4billion.

Read the complete story at... http://realtytimes.com/rtpages/20111108_occupy.htm

How can this be happening ???

HOMEOWNERS...BANKS STILL MAKING MISTAKES

Mortgage servicers have been using questionable foreclosure procedures for nearly a half decade and twice this year, federal agencies busted mortgage servicers for robo-signing and other foreclosure shenanigans.

After reviewing 14 large mortgage servicers in the fourth quarter of 2010, the Office of the Comptroller of the Currency (OCC), Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) found what regulators described a "pattern of misconduct and negligence related to deficient practices in residential mortgage loan servicing and foreclosure processing."

On June 30, federal regulators said banks that determine problems in their foreclosure processes must take "immediate" corrective action, and then gave them until September 30 to take "immediate" action, regarding:

• The practice of "dual tracking" simultaneously engaging a homeowner in a loan modification, while foreclosing on the property.

• Using robo-signing to finalize foreclosures.

• Losing and misplacing documents, not keeping records of contact with homeowners, and asking homeowners to repeatedly submit the same documents.

In an earlier April 2011 report "Interagency Review of Foreclosure Policies and Practices" regulators also found "unsafe and unsound practices and violations of applicable federal and state laws."

LOSE A HOME??

Maybe this will be your next cool home. Never, Never give up !!!!!!!!

GETTING HELP FROM FANNIE MAE...

We're here to help

If you're struggling to pay your mortgage, the newly created

Making Home Affordable Program may offer the help you need.

https://www.efanniemae.com/home/index.jsp

Fannie Mae Mortgage Help Centers

http://www.fanniemae.com/kb/index?page=home&c=homeowners_mortgagehelpcenters

Check these Links for direct help from Fannie Mae.....

from Larry, Blog Founder