“Fannie and Freddie Do Not Originate or Service Loans”

Statement from corporate representative of the spokesperson for Fannie and Freddie in Congressional hearing:

“We don’t originate loans, and we don’t service loans. Rather, Freddie Mac provides guidelines for the origination and servicing of our loans, and contracts withsellers and servicers to carry out these operations. Institutions conducting these activities with respect to Freddie Mac loans represent and warrant to us that they are following our contractual requirements. Failure to fulfill these obligations creates a liability for either the originator or the servicer, including the possibility that they will be required to repurchase the loan. Freddie Mac actively requires repurchases of mortgages sold to us in violation of representations and warranties, as appropriate. We pay the servicing industry about $5 billion per year to service our mortgages.”



50 Responses

  1. I am trying to find out if RASC Series 2006-EMX1 Trust is still active. I got as far as the SEC Website which states on 1/12/07 a Notice of Suspension of Duty to File Reports form 15 was filed under Rule 15d-6. I called the SEC to find out what that meant and all they could tell me was that after that date they have no idea what happened to the trust or if it even still exists. I need to find out if this Trust is still active. I am currently in an active Bankruptcy and this could help me greatly if I can find out if the trust still exists. I can be reached at 443 677 2799 or jsmith5915@msn.com. James Smith

  2. Dear Elizabeth Warren, Senators and Congressmen, President Obama.
    American homeowners need protection from US Bank, SN servicing and their third parties. Did their attorneys Andrew Braaksma supervised by Paul Mckenna out of Coral Gables Florida knowingly submit forged documents to the Federal and State courts? Have they committed the crime of Uttering Forgery ? Are they just another law firm like the dis barred David Sterns, the “foreclosure King? It is clear that small Fines, the OCC, nor law enforcement have yet to stop the forgeries and falsified document being submitted to our courts by US Bank and their attorneys. A few judges will not go against the banks bad behavior but many Judges know the truth now and things are changing. We believe that serious interstate crimes have be violated and law enforcement needs to intervene, arrest and prosecute the attorneys and the bank officials who may be committing the crimes. Then you will see an end to the rape and fraud on our American Courts and families.
    However…We can end this mess very quickly…We need state and national laws that simply says that no family / home owner can ever have their home taken and no Family can be evicted from their home until the home owner gets the final price that the bank legitimately auctioned the home for. Home owner should always have the last right of refusal no matter when an auction or sale takes place.
    Set up rules to guarantee emergency low cost funding for the buy back by the home owner at rates that are mandated to help the home owner not put them in a harness of heavy interest. That only creates a guaranteed payment failure that is nothing more then hard labor payment servitude doomed for failure. Bankers have made slaves of the American Poor and Middle Class and that must change. Why should overseas countries, foreign companies and corporations buy our homes. They are taking in some cases a fortune in hard work, equity and deposits. Stop putting families on the street. Leaders of America and law Enforcement, Please defend and fight for justice for the American Families

  3. In CA non-judicial foreclosure ends up with property sold at auction “without warranty” and “as is”.

    And in my experience in CA the appellate courts condone the clouded titles and bid-rigging.

  4. Why wont title insurers insure claims on loans sold to the secondary market?

    Heck, I’m still stuck with the issue that my husband cant prove he received ownership and has a legal right to sell or convey.

    So if he granted or conveyed he would have to warrant title via a warranty deed himself. After 3 2ndary market claims … HELL NO!!!!

    If I pay cash … I want Good Title!!

    But if they counted on you not being able to pay cash … their scheme would have worked without your knowledge of the theft and conversion.

  5. Charles, those who clouded the titles with LPs without standing (not holding the note and mortgage) left the homeowners to clean up the mess. Our discovery went well beyond just those clouds on title. As a buyer my lender required Title Ins and the Title Ins of my Choice (CT) handed me a pleminary report of things that needed to be cleared up before Ins would be Issued on the Title to clear way for me to finance it.

    So the seller couldn’t warrant title to me cause …… And I couldn’t get bank financing w/o title ins. I don’t know about you but I wouldn’t want to be in the situation of the seller .. cause buyers don’t want the risks of defending the title from past misdeeds no more than the good banks do.

    For years I have been asking why wont they clear the clouds and give me a payoff. Heck … if someone owed me money and they were trying to pay me back, I wouldn’t say no

    One would come to the conclusion they couldn’t or wouldn’t give up the title. Why?

  6. The Fed is knee deep in this mess, and has step in the negotiations of foreclosures, through the (Independent (wink wink) Foreclosure Review Board) were it was stopped as the OCC (puppet of the Fed) and the Fed stripped the “No Standing” issue from the initial payout category!

  7. The question then becomes: The Federal Reserve is actually a private entity run by the big banks/cartels, and they are stealing our homes and land. Dump the Fed.

  8. Fannie and Freddie may own a couple loans, like the FHLB. The majority of the loans are pretty much owned by the FED.

    Who do you think has been buying the 50 billion a month in agency MBS for the past two years. Not the private sector

  9. @ master servicer – you are correct the conversion happens at the time of origination – the key to their secret relies on who is called the originator in the master trust agreement.

    When is the conversion? It is kinda like being arrested, the police detain you and can ask you questions for hours without placing you under arrest or reading you your rights – the origination of the arrest may occur hours later!!

  10. I was supposed to go to bed but saw n Charles Reed is back..,good comment, and
    Reminder Fannie and Freddie hired LPS the biggest shi’a steer outfit bucket shop ever.

  11. What this actual says is that Fannie & Freddie have title issues and at best they only have unsecured loans! I bet there are only a handful of loans in the country with Fannie or Freddie as the “holder in due course”!

  12. Deb, we can all prove what they did, but don’t look past WHY they did it. Another crime to cover crime. Like telling one lie and telling another to cover it up. Then another lie to cover up the 2nd lie and so on. But you have to go back to the begining and forget about the snowballs thrown to distract you. PS .. Your spelling looks correct to me but I would have to walk down the hall to the library to confirm it. If it rains all day again tomorrow we will talk about the difference between a notary acknowlegement and a jurat.

  13. Like I said. Read with impartiality and use what you have verified for yourself against your individual case and case posture. Do your research folks take nothing at face value. Good night.

  14. But seriously – you can identify where the emails are from. I added a private investigator. It’s not that difficult apparently.

  15. Some Ass&*($# refuse to go away.

  16. My kid used to ask me to read him pocinoki – I still spell it that way to remind me of how funny a kid he was. Ian you are pocinoki

  17. My brain n heart are in tact. Its my sanity I”ve lost. :). Behave KC

  18. Ian … Liar Liar. Your pants are on Fire and your nose is growing @ A rapid rate.

  19. It’s all about heart – anyone that understands how the brain works knows that the queen of hearts wins. It is human nature. Feel sorry for anyone that’s sub human.

  20. Bzzzz. Wrong Answer. Stop laughing Christine. Lol. I agree with your statement in our last conversation. Dag gone it … I was taught you leave no one behind. I was also taught .. You can’t save them all, and that was a reality I would have to except … Those we do save has to be enough. Deb, luvs you to, you have a good heart!

  21. Louise- mycookiejar IS stripes/Ivent- we did a URL trackback

  22. We all bat for the same side. Never get confused about that
    Our kids, their future.

  23. Personally …. I luv allaya

  24. I understand that Deb, but she’s not going to come here and insult people for no reason. Invent/Stripes. Really?

  25. Louise sounds like a fighter who is just like myself looking for info and feeding off this site simply to see if it plants a seed that might grow within our individual cases – leave no stone unturned because one time you may get the one that leads you down the right path to succeed in court. Nothing is what it seems – on here most definitely.

  26. Louise sounds a lot like she needs legal help. Maybe she is trying to live the dream “. Free America” … Free lawyer, Free house, Free ride. Wake up Girl! And if you are awake, da bank is hiring cheap actors these days.

  27. Jg consider that sub prime jumbos were designed to fail and that they were anything but ” conventional ” loans. They were not written/ underwritten to Fannie/ Freddie guidelines more like ginniemae ( enter Charles Reed) I believe that something else happened to those loans as we discuss on here until cows come home but to get that storirs evidence we would need to pierce the corporate veil – and then we have already seen their depths of deceit we have a manual on it ,
    I do not know anyone who has done that in this mess. Class action with attys that truly believe in truth and justice and were motivated to claw the money back they owe might get the baa..stools.
    Mine was toxic ab initio though I never knew because I believed the appraised value and equity I thought I had – nuf said.
    I am sure I do not have a ” Fannie Mae loan” and the house does not ” go back” to Fannie Mae.
    Not an attorney but interested in the truth of the matter.

  28. Better yet Deb, how do you convey title to your estate to MERS in a Mortgage and @ the same closing grant a warranty deed to the funding company (not lender named on note)? Then top that mess off with the FC parties. Oops, I almost forgot. . How do you / me. Grant a warranty deed we didn’t get the title legally and a buyer can’t get title ins?

  29. For the serious student / litigator from some old notes:

    “When is suretyship considered a real defense?
    Christopher Morrow – Claims and Defense of Negotiable Instruments
    Charleston School of Law”

    or just google “personal defenses” and or “real defenses” and or
    “surety as a defense” or some combination

    the relationship between the surety, the principal debtor, and the creditor.

    FNMA and FHLMC have made themselves sureties and the borrower,
    unknown to her, had to pay for it in the ‘g fee’. GNMA compelled the Issuer to take that position (surety). We know that at least with FNMA,
    fnma must make four payments before it may end its guarantee by
    repurchasing, yet the homeowner is never credited with those payments. We also know the guy preparing the amt-due form, the servicer, knows this, because contractually, the servicer must advance those payments and be reimbursed by fnma by invoice. Anyone who got a loan going to fnma PAID for this fnma sales tool and is not credited with the guarantee payments made.

  30. P.S.: Mycookiejars is starting to look alot like STRIPES!!!!

  31. Here is a link to what the FDCPA does or does not or can or cannot do. Excellent legal analysis.It also discusses secured debt and the cases cited that defend the issue of secured debt under the FDCPA. http://www.edcombs.com/wp-content/uploads/2013/05/fdcpa-december-2012.pdf

  32. Neil, I hope this isn’t a newsflash. FNMA and FHLMC have never originated loans. The form says fnma on it because it was underwritten to their standards / guidelines (well, was supposed to be) so they would buy the loan. Before securitization, F and F WERE the secondary market (and it wasn’t broken – they had endless funds). Lenders sold the loans to them servicing RETAINED. F and F NEVER serviced loans.

  33. It’s all in the detail – they decided to state all over the letters ” this company is a debt collector! What is one supposed to do – the 1099a says lender ok lender. This is ridiculous. No transparency whatsoever we must play the game or roll over – I say use what they file use what they submit to irs. Make them eat their words and make sure you get them in position – burden of proof on them
    That’s all I have to say about that. Except for – you have to know your case your strengths and weaknesses when going into battle.

  34. Anybody have any links to info about Chicago Title? How about Countrywide’s subsidiary CTC Title?if so I can provide an email address. Thx

  35. My commercial loan is with Citi. Shhhh! 🙂 but my buyers didn’t take out a loan too… Hmmm dag gone it. More legal Questions. Better have my list ready @ $240 an hour. I’m a lil like Great Grandma to … A tightwad.

  36. Thinking Coyle n Briggs “. MGIC?

  37. I hold title and used it as collateral for my commercial loan. Hmmm?

  38. Sorry, where would that leave my BUYERS?

  39. Where would that leave my borrowers if I defaulted? That’s a Legal Question.

  40. That’s It MS. Commercial Loan n Contract for deed sale. I have a commercial/business loan just for the purpose of a contract sale for someone who wasn’t credit quailifed because of Citi mod fraud on them in 09. Makes me think. Hmmm?

  41. Those follow up fees of $400.00. The amount of the uncashed settlement check. Oh, they applied extra funds to principal, then applied the fees. Business Model Extorsion n Cover Up for Grand Theft auto .. Estate

  42. I was once ignorant … Willing to payoff. Sold everything but the grandkids to raise the money after fraud default claim. Ill law only allow Reinstatement once every 5 year. I called them out on their lies by paying the bogus fees and all they ask for, I Relied on what they told me but didn’t trust them and sent extra for those follow up fees they applied afterwards that keeps account in default. After their response and the snowballing … They can Rely on this..I”m in to the end. Taking a Bite Out of Crime!

  43. AHMSI told me that I did not have a fannie mae loan, and it says I have fannie mae loan right on my Note

    Under the accounting rule s and IRC Reg 1.1091 1.1031 ….nothing exists until after the sale …..the obligation due is for the commercial loan converted to equity or trust shares at time of the origination


  44. They assume you will pay, because you are ignorant of the law.

    and continue to proffer the wrong arguments . . . .


  45. Once again, take a look at the Fair Debt Collections Practices Act. These servicer thieves do not own squat.

    The Fair Debt Collections Practices Act.is moot , a nullity to a secured lenders claims ….


  46. Once again, take a look at the Fair Debt Collections Practices Act. These servicer thieves do not own squat. They just forge documents to make it look like it belongs to them. It is something that has been going on for years in the slimy debt collection gangsters business. They assume you will pay, because you are ignorant of the law. The problem with foreclosures is that the debt is secured by land and/or house. When my foreclosure nightmare first started AHMSI told me that I did not have a fannie mae loan, and it says I have fannie mae loan right on my Note. Unfortunately, they–servicers, Fannie, Freddie, banks, originators, mortgage brokers, title companies are all pointing fingers at each other, and they are all in on it. There are now at least two Notes on my property as well and probably more than two.

  47. Good questions Beth… My current case has led Chase to Assign the Mortgage to Fannie during Chases attempt to foreclose on me.. So did Chase willingly defraud the courts over the last 3 years ? Whom would be sending out Satisfaction of mortgage and sending out the PAID off Deed ? It still gets crazier ….

  48. So how comes it says on their very own website Fannie is the owner of the mortgage and the note since the day of the closing ???
    This web of deceit cannot continue much longer !!!

  49. Does anyone have information regarding the recent settlements with the banks, specifically Wells Fargo, and Freddie Mac. WF paid $869 million to resolve disputes over “faulty” loans sold by WF to Freddie Mac. My question is does that mean that WF has purchased those loans back and is now the owner; did WF pay a portion of the loan to reduce Freddie Mac’s risk; or did WF just pay the 869 million as a penalty to Freddie Mac with no reduction on the principle loan amounts. The is crucial for the homeowner as ownership of the loan when there is a foreclosure or anytime. There are different requirements/guidelines for modification if the loan is owned by WF v Freddie Mac for example. WF allows for HAMP 2, Freddie Mac does not. WF may do a principle reduction, Freddie Mac will not. If my supposed Freddie Mac owned loan was re-purchased by WF in 10/2013, I should have been notified under the TILA provision which requires a homeowner is notified of the sale of the loan/mortgage within 30 days. If only a portion of the WF settlement went to pay down my Freddie Mac loan then I should be notified that the amount of my loan has been reduced. So what was the $869 million for? Where did it go? Where is the transparency as I see nothing but a black hole? Anyone?

  50. Well don’t tell the foreclosure firms that. They are slathering every blatantly fake file they have with BIG SCARY FEDERAL NATIONAL BLAAAHHH.

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