Secy Mnuchin: Congress Should Tackle Fannie, Freddie or Treasury Will

OAN Newsroom
UPDATED 1:51 PM PT — Wed. January 31, 2018

The Treasury Department may solve the bailed-out status of Fannie Mae and Freddie Mac through administrative action unless Congress is able to address the matter. One America’s Kristian Rouz has more.

54 Comments on "Secy Mnuchin: Congress Should Tackle Fannie, Freddie or Treasury Will"

  1. All American | February 4, 2018 at 8:18 pm |

    I hope that they dig in deep and that they pay special attention to Project Acorn and ties to Obama!!

  2. Chances are you don’t fully under NTMs, securitization or rehypothecation. No homeowner agreed to allow their collateral to be used in a nemo dat scheme of shadow banking. “It’s 3 pm, do you know where your collateral is?” Look it up.

  3. Daniel C. Fay | February 4, 2018 at 7:52 am |

    Yep. Let’s let the government run “everything”. They are so good at it.

  4. HarryObrian | February 3, 2018 at 6:18 am |

    Yet you offer no correction, just the childish, trolling one liner of a libelous libba.

  5. When y’all get off the “Credit” wagon, and start with “Saving”, you never heard of that I’m certain, things work much better. Paying interest adds thousands to the cost of buying. I’ll get a much better deal paying cash than with borrowing. I invested $40,000 in a mutual fund, which we cashed in five years later. For $131,000. Bought a house for $14,700, fixed it up, and sold it 7 years later for $27,000. With less than $2,000 in materials bought. When the bank forecloses, the managers at the bank get to buy the property for the balance owed. List goes down the organization chart from top to bottom. They win, the loan holder loses. They also get the preferred rate to get a loan to buy it if they chose.

  6. The federal government needs to be completely disconnected from private financial issues and programs. A politically charged environment is no arena in which private financial matters should ever reasonably reside. Further, the federal government should never be involved in the bailout of private institutions. America has bankruptcy courts for such determinations. Just as the treasury should never be involved in the economy of America, the federal government should never be involved in private financial issues.

  7. If the Fed doesn’t save Freddie and Fannie, who will pay the Obamacare premiums for those who are here illegally? Come on Mr. Deep Pockets, have a heart.

  8. Oh , You must be a Real Estate Salesperson , LOL

  9. Homeowners should not be able to buy a home without a reasonable down payment.
    Investigation into means of re-payment and a decent credit report. The government, taxpayers, should not be held responsible for the entire mortgage.

  10. President Trump has surrounded himself with some very smart people.

  11. The government should not be in the mortgage business. Sell the good active accounts to banks. Turn the dead accounts over to collectors. In the future stay out of private business using taxpayers money and let failed businesses fail and declare bankruptcy selling the good assets to better run companies and turning the bad assets over to bill collectors. Make it a federal felony to default on a federal loan. Fill GITMO with the dead beats.

    • If the Govt was not, 70% of Americans would not be homeowners. VA, FHA and all the loans backed by Freddie and Fannie account for over 70% of loans. This is a huge part of our economy.

      • This is a simple fact, if you can’t obtain a loan at a bank you most likely don’t have the credit or income to get that loan. The reason Freddie and Fannie are failures is guaranteeing loans for deadbeats or people that are unqualified for loans. It is like I told my daughter; don’t come to me to borrow money, go to a bank. If a bank won’t loan you money because of bad credit why should I?

  12. Clinicaleducator1 | February 1, 2018 at 6:53 am |

    CONGRESS????? FIX??? YOU MUST BE KIDDING!!!

  13. If anyone is confused about buying a Home , here is your answer . Don’t buy !!! Its really stupid . I could explain it but it would take all day . Its more than just the Math too . Don’t Buy !!!

  14. If anyone is confused about buying a Home , here is your answer . Don’t buy !!! Its really stupid . I could explain it but it would take all day . Its more than just the Math too . Don’t Buy !!!

    • Sane_Person37 | February 1, 2018 at 7:37 am |

      Very early on, some older folks told me one thing – Never sell real estate. They ain’t making anymore of it.

      If I have followed that advice, I’d have a magnificant nestegg, not to mention all the rental income.

    • That is the stupidest thing I have heard someone say all week. Home ownership creates wealth if you buy and hold.

      • Oh Yeah ! How much are you paying in Taxes and Interest every year . And then tell me where your profit is ? Values have been underwater since 2008 in 90% of America . Don’t call me Stupid you imbecile !!!!

  15. FNMA AND Freddie Mac are NOT failed institutions – they’re obliged by law to pay their huge profits to the Treasury. The housing crisis of 2007-2008 was caused by the fool cliton and demonrat Congress who forced the banks to GIVE out loans to folks who were never able to pay back that money; and obamavermin who physically invaded banks while city demonrat authorities looked the other way, and forced lending agreements upon the banks under duress

    • Johnny Mountain | January 31, 2018 at 6:28 pm |

      Banks weren’t forced to loan to anyone. That’s a Republican fable . Banks knew bad loans were government backed so they had nothing to lose by making bad loans . Banksters saw an opportunity and exploited it . This happened on Republirats watch under George Jackboot Bush .

      • Bob Ritthsler | January 31, 2018 at 6:43 pm |

        You’re completely unaware of the Neighborhood Re-investment Act and it’s requirements on banks.

        • HarryObrian | February 1, 2018 at 5:19 am |

          and let us not forget the anti-American who created that evil… Barney Frank.
          Me thinks Munckin should be talking about keeping President Trump’s campaign promise of auditing the FED.

      • Horsesh.t. They were pressured to take crappy applications. FACT. I had to look at all the damn foreclosure documents in my condo community for over two years. The down payments were also loans. These idiots that borrowed both downpayment on one loan and another mortgage for the remainder walked away losing nothing. They essentially paid ‘rent’ for a few months, defaulted and paid nothing for months until the eviction due to foreclosure. No banks would have willingly taken out loans on these deadbeats that had low credit ratings. They got stuck with the foreclosures. NO bailouts. Obama locked banks behind closed doors and used more strong arm.

        • All American | February 4, 2018 at 8:40 pm |

          Read 10/26/08 American Thinker by M. Jay Wells “Why the Mortgage Crisis Happened …”

      • YOu ar an IDIOT… Fanny and Freddie gave out bad loans and the government mandated they be packaged in with good loans to sell to Banks.. this is ALL CLINTON, DODD FRANK COMMUNIST IMPLOSION THAT DESTROYED THE ECONOMY IN 2007.
        US GOVT needs to sell off Fannie and Freddie, Federal Govt does not need to be in the mortgage business to screw taxpayers and buy favors fro themselves

        • Sane_Person37 | February 1, 2018 at 7:34 am |

          And the Fed printed up 4.3 Trillion + to give to the banks so they could have a do over for their funny money mortgage derivatives bets, and called it QE.

        • Fannie and Freddie don’t give out loan! Ever!They guarantee loans that there banks provide and wrap them into MBS investors!
          The TBTF BANKS processed these loans as grade A PAPER and the rating agencies stamped them with approval

        • Fannie and Freddie don’t “give out loans” or sell to banks. Do some research before you type.

        • HarryObrian | February 2, 2018 at 5:34 am |

          Actually it was the creation of derivatives by Wally Street , with the ignorant blessing of the FED, that started it all. Tis why the FED needs to be audited.

        • There is a town in Norway, I believe, went bankrupt for buying some of these loans!

          • Iceland was also hurt badly from bad CDO’s for the first time in its financial history.

          • $3.4T to now $5 TRILLION of AMERICAN pension fund losses because of this intentionally rigged system. Stockton, CA, Detroit, MI, among others bankrupt. Cuts to and in some cases elimination of workers pension funds. Property taxes raised to try and recover bad gambling debts by states using pension funds. Horrific and concealed.

        • I wouldn’t call it Communism. It’s Globalization sold to the American public like ice cream with open doors, melting our economy. Research US Rep Marjorie Holt (MD) 1976. The ONLY person to in the entire House to stand up against One World aka Globalization and tell Congress it wouldn’t work. It would only escalate wars because someone will always want to be king. She was right. We’ve been in wars ever since.

          • Ok, maybe its commie “LITE” but it takes freedom and resources, CASH from hard working Americans. Gives power to unelected bureaucrats that wish to rule over you… its still COMMUNISM with different flare.

      • Banks were ALLOWED and DIRECTED to approve loans that under normal underwriting conditions would NEVER have been made. I was a mortgage loan officer during that time. Banks were HAPPY to make these loans, because they got paid, and the liability went to FNM & ,FreddieMac ( aka the taxpayer).This failure, took Wall Street down with it and investors lost 1/3-1/2 of their assets. Barney Fwank (DEMOCRAT) and Chris Dodd (DEMOCRAT) set this fiasco into motion and laughed all the way to the bank.

      • Wrong google, clinton and bank loans!

      • What planet are you from?

      • BullShoot! Obama was responsible for the mess! Any one with no credit, no job, no down payment could get a loan for a house. But with a job and good credit I needed at least 10% down. Just depended on who you were. I would never have take a loan from the loan sharks that were giving out those loans.

        • Actually it was all over but the crying by the time the jug-eared Kenyan Commie-crat came along. The causes had started back under BJ Clinton (if you want to get technical, really under Jimmie Carter, but that’d take too long to develop in this space) but Bush 43 really didn’t push hard enough against the Dem Congress plus he was too distracted by 9/11 and Middle East terrorism.

          • Or go back to when the dollar was backed by silver. The dollar bought a new Mustang for $2465 when I made $3/hr. in 1966. Today, one costs over $32,000!
            I paid for it with 24 weeks take home pay. $3×40=$120, take home $111 times 24
            is $2664. Didn’t use a calculator, but we learned math in school back then.

      • Read Reckless Endangerment before you take a political position. We’ve been sufficiently brainwashed. SWAMP is in both parties. Fannie dropped its pants first and faked Dem government pressure. It was all about money! See SEC Complaint & Non Prosecution Agreement.

        Banks like Countrywide took full advantage. See DOJ v. BofA/Countrywide (2012-2016). Fannie has top notch fraud section software under numerous USPTO patents. And no one has made them turn it back up to full speed yet!

        This nightmare started years ago. Even before the 1976 Congress Declaration of INTERdependence aka OneWorld aka Globalization. Reagan deregulated, Clinton repealed Glass Steagall and it’s been a dirty ballgame ever since.

        Citizens were sucked into the corruption like a Hoover; and, to compound it Obama/Geithner created the half-assed HAMP scam, ran TV commercials on steroids inducing homeowners to call their servicers for a modification. Servicers told homeowners they had to miss 3-4 payments to qualify and then threw the homeowners into default and then foreclosure. Read BAILOUT, Chapt 7, Foaming the Runway by former TARP Inspector General Neil Barofsky.

        Don’t get me started! Take politics OFF the table. This is pure criminal corruption. The SWAMP has many members, fat cats that got rich majoring in insider trading. For starters: #TermLimits

      • You are a idiot. Educate yourself. Government regulations run the banks. All of them, always has. Over the years loan regulations have creep ed up by congress since Carter. Your friend Gutierrez is a main culprit. Go read the regulations yourself. You are brainwashed.

    • Tell that to the people suffering through their actions. In the meantime, I’ll bet Barney is polishing up his team’s baseball bats.

    • All American | February 4, 2018 at 8:36 pm |

      Barry had a big hand in it!

  16. landy fincannon | January 31, 2018 at 5:44 pm |

    Goldman $ has entirely to much influence on this government. There a half dozen Goldman $ poser in this administration.

    Hillary had four involved in her campaign alone.

  17. 2EdgedSword | January 31, 2018 at 4:54 pm |

    The CBC, SPLC, ADL, and Democrat Party will never stand for irresponsible loans being denied, and the Central Bank will not be denied this tremendous tool to increase inflation.

  18. Andrew Gockel | January 31, 2018 at 4:14 pm |

    I am confident that Mnunchin will steer the way for a competitive U.S.

  19. Mnuchin its up to you

    congress is broken can’t even fix itself

Comments are closed.