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Fannie Mae / No over sight

4566 Enismore, Clarkston, MI, United States Review updated:
Contact information:
Phone: 248-765-2369

There is no over sight for wrong doings of the system, Fannie MAE is blameless because the appointments of power, from HomePath all the way down to the appointed realtor. The amount of abuse and back door dealing is appalling. Buyers are nothing but sheep to this system and the only fraud number leads right back to the wolf.
HUD guidelines are used as gospel but manipulated for profit and gain. If you make it out of the dark woods of HomePath, you then have to deal with the loan officer. Once again the gospel of HUD is told to you and when it comes out that the lenders version and the realtor’s version both don’t match HomePath’s version, it turns out it’s none of their fault it’s the buyer’s fault.
All of these organizations follow the same creed “WE HAVE IT; YOU WANT IT”. Without oversight of the system it only has one way to go, and that is down. It sure would be nice one time if the government could put guidelines into place for the people.
I am compiling all the facts in one document at this time, to publish and hopefully point out to the unsuspecting; the short falls of the system, and maybe just maybe I will find someone in the mess that actually wants to help.

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Comments

  • Sh
      Jul 28, 2015

    YES I absolutely agree. The banks, the overseers, the agencies involved are all in cahoots. In particular I'm so frustrated as a buyer/investor with realtors who service these FANNIEMAE homes & do a huge disservice. They do not respond in a timely fashion to an inquiry, if at all. Listers are too lazy to show the property themselves & want to pawn a buyer off to their 'team mate' buyer's agent. Instead, FANNIEMAE's contracts should permit a savings on commission, i.e., they pocket more money & make deals more affordable, if buyers agents aren't always a part of the commission structure/deal. Most investors do not need a buyer's agent, just someone to open the darn door to the property!

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