Caroline Gerardo, C. G. Barbeau the Loan Lady nmls 324982 (CMG Financial)

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Rainmaker
79,312
Jerry Thomas-Construction Loans
Cranbrook Loans - Farmington Hills, MI
Construction Loans Jumbo/Conventional/FHA/VA

Wow! I'm really just stunned by the comments I'm seeing here. Fannie and Freddie were bailed out to the tune of $191 Billion. To date they have paid back the $297 Billion to the Treasury. Yes, they never should have been turned into a political tool but they have been profitable for almost their entire history.

Jun 04, 2019 03:37 PM
Rainmaker
3,301,369
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Do you really think my "opinion" matters in this situation? Even those far more powerful have little say. Interesting he was speaking before the NAR. PAC-money well spent.  Pondering. 

Jun 04, 2019 12:41 PM
Ambassador
3,275,734
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

They make homeownership possible for many who could not afford it otherwise. They were bailed out and have repaid their debt to the tune of billions of dollars (more than was necessary for bail-out). 

So, yes - it may be a hot mess but, hey, it's profitable. How many other parts of our government can we say that about?

Jun 04, 2019 05:10 PM
Rainmaker
696,762
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

The government ruins everything it touches. It's poorly run, mismanaged on a good day. I would start with oversight.

Jun 04, 2019 02:59 PM
Ambassador
2,202,759
Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

I am pondering Michael Jacobs' pondering.

Jun 04, 2019 02:07 PM
Rainmaker
3,237,421
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Hard to argue with Michael Jacobs

Jun 04, 2019 12:54 PM
Rainmaker
4,949,617
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

I have no opinion on this..... never think about financing anymore.... I have enough to think about...while my mind continues to work!!! 

Jun 04, 2019 12:53 PM
Rainmaker
2,444,488
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

This is worth exploring by Congress...however they dont do anything

Jun 04, 2019 12:42 PM
Rainmaker
671,169
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Fannie Mae and Freddie Mac contribute many millions of dollars to the Treasury. You bet the powers that be want to keep control of them.

Jun 04, 2019 03:57 PM
Rainmaker
995,679
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

It's getting harder & harder to see where Uncle Sam derives his income for these GSE trust fund babies. Cut 'em loose, they cannot do worse, or can they?

Jun 04, 2019 02:05 PM
Rainmaker
4,401,149
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Caroline,

On the dole is not my favorite phrase. When you have your hand out and it gets filled, there is no motivation to become financially successful, whether you are a big company or an individual.  It is now what the fundamentals of our country stand for.  A

Jun 04, 2019 01:50 PM
Rainmaker
1,593,477
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

No. Evidence of their mismanagement is great so why keep them around?

Jun 04, 2019 01:06 PM
Rainmaker
1,250,886
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

One part of the combo so far that has not been ruined by government influence!

Jun 05, 2019 04:35 AM
Rainmaker
2,972,470
Richard Weeks
Dallas, TX
REALTOR®, Broker

At some point in time, both will be replaced by Amazon.

Jun 05, 2019 02:10 AM
Rainmaker
620,640
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

you mean a private company like Wells Fargo? No thank you

I tend to agree with  Jerry Thomas-Construction Loans 

Jun 05, 2019 12:23 AM
Ambassador
2,859,182
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I don't see them as on the dole, I see them as setting standards for lending and I believe there has to be standards.

Jun 04, 2019 09:43 PM
Rainmaker
1,229,299
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I don't know if a private company would do any better of a job.

Jun 04, 2019 09:21 PM
Rainmaker
922,018
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I'll let Jason E. Gordon share his wisdom on this one.

Jun 04, 2019 06:56 PM
Rainmaker
1,526,296
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

'da dole' as they said in Ireland & Chicago? I think they should become public & dump the government control that F'd them up recently. They were profitable & money was sucked out of them like a sponge.

Jun 04, 2019 05:02 PM
Rainmaker
5,343,121
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Nope.

Jun 04, 2019 04:02 PM
Rainmaker
1,053,718
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Don't have an opinion. 

Jun 04, 2019 02:17 PM
Rainmaker
3,053,930
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I have no opinion on this matter. Would need to see more discussion of pros and cons instead of generalizations. Not even certain what on the dole means in this situation. Is that another way of saying it's government program and not private? Does that mean FHA and VA are "on the dole." They make home ownership much more widely available, which I believe is a good thing.

Jun 04, 2019 01:53 PM
Rainmaker
405,101
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

I'm not sure the banking industry would be happy with a privately held Fannie & Freddie well.......not unless they held it which they probably would if it were privatized. This will be the exent of my attention spent on the topic.

I will not spend the time research understand the issues around these entities - how they work, what's right and what's wrong and what could/should be improved about them.

Jun 04, 2019 01:34 PM
Rainmaker
759,890
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

The government will not give up control once they have their hooks into something. Not sure if being private would make it any better or worse

Jun 05, 2019 07:05 AM
Ambassador
1,631,047
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Yes, they need to continue on.

Jun 04, 2019 08:34 PM
Rainmaker
755,511
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

As a PRIMARY lender to those in pursuit of their 1st American dream I say yes, they should exist.

However, for a depository or ALL home mortgages...NO.

And absolutely NO for being privately held.

Have we learned nothing?

Jun 04, 2019 02:19 PM
Ambassador
4,161,451
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I think that the govt should not be in the home lending business.

Jun 04, 2019 02:00 PM
Rainmaker
2,781,583
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Either way, we've seen government run, government-backed, and private entities do bad things that harm consumers and the general public. 

Could it be run better? Differently? 

Would it be run better if run by a private company?

Certainly, something to ponder.  

Jun 05, 2019 07:10 AM
Rainmaker
2,971,964
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I think they should be run as private, just the way they sell their bank owned homes tells you all you need to know with POOR choices, too few agents and too much bureaucracy. 

Jun 05, 2019 05:34 AM
Rainmaker
4,064,330
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

As long as our clients can get loans, I don't really have an opinion.

Jun 20, 2019 10:33 AM
Rainer
182,695
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

Fannie and Freddie has done well, so why change things. People have been talking about this for many years, yet nothing has has been done. It is profitable, so leave it be.

Jun 08, 2019 05:52 AM
Rainmaker
1,535,635
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Small bill compared to so many other Federal programs that help no one.

Jun 05, 2019 08:54 PM
Rainmaker
1,515,389
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Jerry Thomas-Construction Loans thank you for the best answer.

Jun 05, 2019 06:22 PM
Rainmaker
1,083,136
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty

How interesting. 

Will read answers. Thank you for a great question.

Jun 05, 2019 05:15 PM