Monday, September 30, 2013

FHA bailout

"We all knew it was eventually going to happen.  FHA is looking for a bailout to maintain it's required reserve account.  What's somewhat surprising is that they say it's due to losses on their reverse mortgage side.  The thing that's frustrating to understand is that FHA is nowhere near bankrupt."

Friday, September 13, 2013


"Fannie Mae Hires Ex-Fraudster

Fannie Mae hired Adam Glassner last month after they sued him while he was working for Bank of America for defrauding them.  Yeah, you heard it right. Yes in the crazy industry we work in strange things happen.  Adam Glassner used to work at Bank of America was sued by FHFA for defrauding the GSE's.  Then after he leaves the company Fannie Mae hires him.  Okay, that makes sense.  Why not?"

Just how this lovely industry works.................