Fannie Mae is working with regulators to set standards for home appraisals. The Fannie Mae Home Valuation Protection Code. From the press release: First, to help ensure appraisal independence and valuation protection, Fannie Mae will adopt a Home Valuation Protection Code. The Code establishes requirements governing appraisal selection, solicitation, compensation, conflicts of interest and corporate… Continue reading Fannie Mae Home Valuation Protection Code

The combined net worth of the six richest individuals in the world is $310B (forbes.com). On Friday, the senate passes a bill that would put $300B towards rescuing Fannie Mae and Freddie Mac and supporting mortgagees who in over their heads (and can document it). President Bush is likely to sign the bill into law… Continue reading $300 Billion and the Housing Market

1) Freddie Mac reported losses of $1.9B and Fannie Mae lost $2.4B. Fed Chairman, Paulson, says they will not be injecting public funds into either enterprise. 2) 2356 NW Hoyt is one of about 39 surviving homes in Northwest that was designed by Joseph Jacobberger. The Abstract of Title shows that the property was sold… Continue reading Monday Morning Real Estate Muse

It looks like a federal bailout of mortgage backers Freddie Mac and Fannie Mae may happen as early as today. “It could cost taxpayers billions.” It is reported that a million more houses will enter foreclosure in 2008 compared t 2007. Freddie and Fannie back more than half of the country’s mortgages. I don’t see… Continue reading What is the Government Going to do with Freddie Mac and Fannie Mae

CNN reported this story on Friday. I’m conflicted. It’s sweet but rewarding someone for inflicting harm on themselves? Not as though Fannie Mae can afford charity these days. Addie Polk, 90, of Akron, Ohio, became a symbol of the nation’s home mortgage crisis when she was hospitalized after shooting herself at least twice in the… Continue reading Is Fannie Mae Setting a Precedent?

The first to FAQs on Fannie Mae’s website probably describe it best:   Why does Fannie Mae have properties for sale?  Fannie Mae works with all of its partners to help homeowners prevent and avoid foreclosure; however, sometimes it is unavoidable. When foreclosures occur on mortgages in which Fannie Mae is the investor, our goal… Continue reading Fannie Mae’s Property Website: HomePath.com