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    IMF WANTS PRICIPAL REDUCTIONS FOR HOMEOWNERS

    IMF WANTS PRINCIPAL REDUCTIONS FOR HOMEOWNERS

    IMF
    = HEAD OF INTERNATIONAL MOTHER F-KERS, Lagarde calls for principal
    reductions.  I should be happy, right?
    Just last week Lagarde spoke at the Brookings Institution in Washington D.C.
    and Christine Lagarde called for all of us to help the IMF. Yes you heard that
    right, she was begging for money.  We
    should give money to the IMF so they can give it to any Country they want to help.  Did you know the IMF is a Charity who begs
    for money?

     We don’t need another money-sucking vampire
    squid.  I hate to be a wet blanket, but
    I can’t help but feel this is just a ploy to get us on the IMF team.  Don’t get me wrong, I’m all for principal reductions
    or as I like to call it, fix the fraud the banks created.  But when the head of the IMF talks about
    this combined with other things she wants from us, it all seems disingenuous.

    Do
    you think she is sincere, or do you think Lagarde is just trying to gain our
    favor to push her underlying agenda through public comments which appear to
    support the homeowners?

    http://www.dsnews.com/articles/head-of-imf-calls-for-principal-reductions-american-homeowners-2012-04-16

    FANNIE AND FREDDIE

     

    Eleven
    state attorneys general led by Massachusetts Attorney General Martha
    Coakley
    , sent a letter to Edward DeMarco, Acting Director of the FHFA, urging him to allow Fannie Mae and Freddie Mac to move
    forward with principal reductions.  The
    letter doubled down on the FHFA to “preserve assets and prevent
    unnecessary foreclosures by implementing loan modifications that include
    principal write-downs.”

    http://www.dsnews.com/articles/index/eleven-ags-send-letter-urging-demarco-to-reverse-course-2012-04-13

    I
    find it ironic that the FHFA is suing Wall Street and almost every bank for,
    among other things, “inflated appraisals.” Who the hell does DeMarco think is
    stuck in that fraud, the upside down homeowner!! He has no problem suing the
    banks for this issue, but refuses to assist the victim of the crime? Here is an
    excerpt from one of those suits, FHFA v. The Royal Bank of Scotland, RSB
    Securities, Inc., Greenwich Capital Markets, Inc., RBS Financial Products,
    Inc., RBS Acceptance, Inc., and Financial Asset Securities Corp.

     

    “Accordingly,
    an accurate appraisal is essential to an accurate LTV ratio. In particular, an inflated appraisal will
    understate, sometimes greatly, the credit risk associated with a given loan.”

    “As
    discussed below at paragraphs 103-108 the Registration Statements for the
    Securitizations materially understated the
    percentage of loans in the Supporting Loan Groups with an LTV ratio at or less
    than 80 percent, and materially understated the percentage of loans in
    the Supporting Loan Groups with an LTV ratio over 100 percent
    , thereby
    misrepresenting the degree of risk of the GSE certificates. “

    AND
    THE RISK TO HOMEOWNERS-With all due respect Mr. DeMarco, reducing principal,
    fixing the fraud for the homeowner should be a no brainer. 

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