You want to know how bad this new Mortgage deal is----- read dday.

[trumad]

Simply amazing they're putting this out there in this climate.

http://news.firedoglake.com/2011/10/24/fhfa-refi-plan-helps-banks-reduce-liability-on-bad-loan-origination/

[Atypical Liberal]

1. Refinancing doesn't help much.

I refinanced my home under HARP. It was nice, as it cut my house payment by about $200 a month.

But the fact of the matter is, even if my loan was at zero percent interest, my home would still be worth half what I owe on it.

[kentuck]

2. Some folks won't be happy until they nationalize these SOBs...

Me, for one. If we are going to keep bailing them out, why shouldn't we own them??

[TheWraith]

3. Gosh, negative bullshit coming out of FireDogLake. I'm shocked.

I wonder what Fox News thinks about it? :sarcasm:

ACTUALLY, I wonder how many people are going to be taken in by the bullshit talking point that it's somehow another bank bailout.

[kentuck]

4. Do you have evidence otherwise?

Or is this just your unbiased opinion?

[TheWraith]

7. The program ONLY applies to GSE banks, in other words Fanny Mae/Freddy Mac...

...and the Federal Home Loan Banks. It does NOT apply to loans handled by for-profit banks.

[trumad]

8. read it again

[kentuck]

9. "It does NOT apply to loans handled by for-profit banks. "

Not now!

Why do Freddie and Fanny have these mortgages? They were not the originators? Fanny and Freddy means you and I and the taxpayers are now holding the bag. Follow the money.

[TheWraith]

11. You might want to learn how Fanny Mae and Freddy Mac actually work.

It doesn't quite work if you start from the preconceived notion that it MUST be a bank bailout.

[kentuck]

12. I didn't say that....

But it is a bailout when the banks hand off their bad mortgages to Fanny and Freddy and are no longer responsible for their decisions and leave it for the taxpayers.

I think you might need to read up a little on Fanny and Freddy?

[banned from Kos]

13. The GSE never have originated a mortgage - they are only a secondary buyer

any mortgage they have has been sold to them by an originator.

Any non-conforming (very important term) they hold should have been putback already. (don't confuse non-conforming with delinquent)

[Name removed]

5. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[trumad]

6. really an ignorant post

Knock down what he wrote which by the way are facts.

[girl gone mad]

16. It is another bank bailout.

[KoKo]

18. Your"AGENDA" is not the "total Agenda" of many of us here who want open communication

and not some "LOCK STEP POLITBORO telling us what to Posts and going along with a Minority as to WHO QUALIFIES to POST when these are known DEMOCRATIC LEANING SITES...even if far to the LEFT OF YOU! (who find it distasteful...that anyone might want to rebuild their party and not be some Lock Step Ideologue.)


Just saying...that you are just ONE VOICE for ONE GROUP of the DEMOCRATIC PARTY's BIG TENT... So be sure you look out there and see the rest of your bretheren and NOT TRASH THEM...because it comes back to bite you in the ASS ...ONE DAY!

A Dem Voter since 1961 Speaks this...So take it and shove it up your ass.

[banned from Kos]

10. Short FDL version (yes, I read it) - they prefer to hold out remote hopes for bank lawsuits

over helping re-fi underwater mortgages as stimulus and good housing policy. If nothing like this is done the banks still never pay a dime in damages related to putbacks.

The hatred of banks (while understandable) has gotten pathological for some.

[trumad]

14. no..your defense of wall street and the banks

Is pathological.

[randome]

19. Thanks for the input.

[Shagbark Hickory]

15. Now, now. I'm sure Obama consulted with the best and brightest bankers in the industry

to come up with the plan.

[KoKo]

20. The Best and Brightest of the last 20 year failure are IN his Admin...

and run it...so he might just need to check in from time to time and his campaign folks go to the meetings and write the speeches.

Anyone see anyone who wasn't in Clinton, Poppy or Reagan's Administration CRACKING THE DOOR of the Obama Administration?

Stigletz, Krugman, Baker and many others who are newer who were horrified at the bailout policies?

Still Waiting...to see that CHANGE.

[KoKo]

17. trumad...

I didn't think you would dare to put DDay's post out there. He's really good as a read...and thank you for doing this..I would not have expected it from you. And, so ...it is.

KoKo

[trumad]

22. fact based community

I don't care what the source is or the website it comes from.....if its factual then its worth posting.

[KoKo]

21. K&R