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Fannie’s 11th Hour PMS

Posted on September 9th, 2008 12:05pm by Candy Evans
Filed under Changing market trends in Real Estate, Real Estate, credit crunch

The Mortgage Reports Blog says old Fannie Mae PMS’ed in her final cranky hours on Friday and upped some lending guidelines, increased fees, and just piled on more bureaucratic gunk for Real Estate investors. Some of us actually believe that investing in Real Estate gives us more control over our financial destiny, unlike, say, buying shares of a quasi-government company run by a bunch of CEOs who lose investor’s money by making bad decisions, bad loans, then exit with 3.7 million and deferred compensation.

One Comment to “Fannie’s 11th Hour PMS”

Michael Davis @ September 9th, 2008 at 5:30 pm

Candy, great point.

Those fees are outlandish. So…let me get this straight…it’s was bad bad bad for mortgage brokers to add on fees but it’s OK for FNMA to charge 3% to someone that puts 20-24.99% down for a property. m-k

There’s going to be a market for rich people to finance small home loans. Some already do it by putting together their capital and starting small mortgage companies, but I’m talking about writing their own paper to people that they know.