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Things aren’t Okay at Fannie Mae

Livinglies's Weblog

By William Hudson

Despite what they may claim- Fannie Mae does not own any note that was previously securitized. The trust does (or is supposed to anyways). Fannie Mae, by their own admission, owns nothing. Fannie Mae acts as a guarantor (insurer) but often forecloses in its own name or a servicer’s name, thus deceiving the court. Fannie Mae’s secondary job is acting as a debt collector for the federal government.
The federal government is well aware of this fraud and has gone to epic efforts to conceal an 11,000-document cache of government communications relating to financial policy. Whatever is contained in this document cache is so toxic that the Obama administration invoked executive privilege over these documents and insisted that their release would “impact” global financial markets. Last week some of these materials were unsealed. Federal judge Margaret Sweeney said the government’s sole motivation was to avoid embarrassment.


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