“We don’t like that. If we wanted loans with Fannie, we would have gone and gotten loans from Fannie. We didn’t. NOW, we do. We aren’t party to the contract that did this to us.”
Of course you’re not a party to the decision. The mortgage was owned by the firm that lent you the money and they can do what they want with it. They owned the mortgage, not you.
And you’re not getting a loan from Fannie. Fannie is simply a secondary investor. Your loan came from your original lender. Your original lender wanted to get liquid in order to make another loan. They can’t do that if their money is already tied up. So they sold the mortgage paper on your house to Fannie.
They could have sold it to any investor that they wanted. Fannie is an easy choice for them since purchasing mortgages in the secondary market is the sole reason Fannie was created 75 years ago. It hasn’t been a government agency since Lyndon Johnson spun them off to the private sector in the late 60s. You can still buy stock in Fannie if you want to.
This whole business of messing up clear titles IS part of my contract. And selling my loan WITHOUT PROPER CHAIN OF ASSIGNMENT is NOT ok.
You can babble all you want about this nonsense, but the bottom line is that the title is clouded now. And I did not sign up for that. And I don’t want to see the whole country’s homes nationalized. Your words do not answer to that at all, And you know it.
Besides, since when it the ‘need’ for liquidity an excuse to cloud title? It is not. You paper pushers have made a huge mess and have allowed the home market to be crashed, all so that OTHERS can play around with paper and pretend to your selves that you are providing ‘liquidity’.
I do not expect your to admit to any of this. But your argument is part of the problem. Real people with real lives are being harmed with this nonsense. The whole country’s real estate market has been harmed with this nonsense.
If I wanted a loan from Fannie, I would have GONE to Fannie. Piss on the whole lot of them.