KnowYourOptions.com: Fannie Mae Purchases Website Domain Name for $50,000

[quadnames]

(LoanSafe.org) – The embattled government backed mortgage giant, Fannie Mae has just purchased an undeveloped website domain name, KnowYourOptions.com for a reported $50,000. The purchase was allegedly completed on sedo.com June 22.

It is unclear what Fannie will do with the website. However, I believe that it will be utilized for homeowners who are behind on their mortgages or are looking for financing options. At the current moment, FannieMae.com (Fannie Mae’s main website) is mainly being used as an online homeowner resource for struggling borrowers.

This new website purchase will allow Fannie to separate its foreclosure prevention efforts from its corporate website .
It appears that many major mortgage lenders are now preparing for the turn around in the home loan market by hiring staff and in this case, purchasing websites to get ready for the coming demand.

http://www.genericcctlds.com/2010/06...ame-for-50000/

[WhoDatDog]

Just another example of them being the absolute worst destroyers of money in American History. Wasting taxpayer money left and right.

[CamMK27]

Good for the seller though. At DNF and other domain name forums if some one asked for an appraisal
most domainers wouldn't even appraise it for $50 much less $50,000

[companyone]

WhoDatDog... your 100% right.

Fannie Mae & Freddie Mac own 94% of the TOTAL home mortgages is the USA....Maybe instead buying domain names....they should be "repenting" on their knees...to what they done to the home mortgage Industry.

Read ALL about it...."The Truth"


John McCain’s Fannie Mae/Freddie Mac Warnings – MAY 2006

I hope you haven’t just eaten, because what you are about to read will disturb you–and well it should. It’s proof that John McCain foresaw the Freddie Mac, Fannie Mae disaster in 2006– and tried against all Obama-Like minds to ward it off.

Below are John McCain’s remarks urging the passage of the Federal Housing Enterprise Regulatory Reform Act of 2005, which he co-sponsored and which was rendered “Dead” in Congress.

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How Did This Current Financial Crisis Really Start


An article in the Los Angeles Times from the late ‘90s praised the sudden surge in homeownership among minorities, calling it “one of the hidden success stories of the Clinton era.”

A New York Times article from Sept. 1999 states that Fannie Mae had been under increasing pressure from the Clinton administration to expand mortgage loans among low- and moderate-income people and that the corporation loosened its lending requirements to comply.

When Greg Mankiw, chairman of President Bush’s Council of Economic Advisers, voiced a warning about weakened underwriting standards, he was rebuffed by Congress..

The Wall Street Journal quoted Congressman Barney Frank, D-Mass., in 2003 as criticizing Greg Mankiw “because he is worried about the tiny little matter of safety and soundness rather than ‘concern about housing.’”

Frank, chairman of the House Financial Services Committee, rejected a Bush administration and Congressional Republican plan for regulating the mortgage industry in 2003, saying, “These two entities – Fannie Mae and Freddie Mac – are not facing any kind of financial crisis.” According to a New York Times article, Frank added, “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

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Here is the actual New York Times article from Sept. 1999:

Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates—anywhere from three to four percentage points higher than conventional loans.

…In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times.

But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.

‘’From the perspective of many people, including me, this is another thrift industry growing up around us,’’ said Peter Wallison a resident fellow at the American Enterprise Institute. ‘’If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.’’

…Under Fannie Mae’s pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000—a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.

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Check out This crook....

Franklin D. Raines ::: A BLAST FROM THE PAST ::: Freedie Mac (still got away with $80+ Million!

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Peace!
Dan

[affordableweb]

i bet that if we looked closely at this the domain was owned by someone related to an employee at Fannie Mae who told his boss it was a good deal.