I think guys like Charles Shumer are just as bad as people like Lawrence Yun… What did you guys think of this statement in the article,
“Sen. Charles Schumer, D-N.Y., a key member of Senate finance and banking committees, said borrowers are the ones who need relief. The playbook to bail out the economy would not be applied to the banks and mortgage originators, but money could be funneled through non-profit organizations to homeowners that need help, he said in an interview with The Associated Press”
or this idea –
“There’s also been talk of letting government-backed lenders like Fannie Mae and Freddie Mac buy mortgages of as much as $1 million from lenders, pay the government a fee for guaranteeing them and then turn them into securities to be sold to investors. This would extend the government’s support, and its exposure, to the mortgage market to help alleviate stress.”
I LOVE THAT ONE!! Lets let Fannie and Freddie buy $1M POS and then pay the GOVERNMENT aka our tax money to gaurantee them and THEN turn them into securities!
Good to see there are rational solutions being bantered about!
