So much so, it basically held a second mortgage monopoly for over 30 years. Fannie Mae is a crook and should be stopped. Fannie Mae was an aggressive second mortgage market supporter that connected their financial injection with the obligation of buying Federal Housing Administration (FHA) insurance. The note becomes permanently converted into a piece of stock and is treated as stock and governed as stock under the SEC.The note and the stock can never exist at the same time because this is a form of securities fraud.įannie Mae does not own my mortgage because the mortgage secures the promissory note, and once the promissory note is destroyed, the mortgage secures nothing. Once placed in a REMIC, it becomes securitized and the mortgage and note do not stay together. What Fannie Mae does is buy mortgages and then places it into a REMIC. This is funny because Fannie Mae by their own admission admits they do not originate or service mortgages. These loans can be fixed or floating and are generally non-recourse. I got a letter in the mail a few days later where they are now claiming to be the "investor" of the loan and they claim to be the owner of my mortgage. A Fannie Mae (Fannie Mae or FNMA) mortgage is a loan product for apartment buildings with 5+ units.
I called Fannie Mae resource center to inquire about whether or not they own the loan and I was told they were not the owner of the loan. Find Fannie Mae foreclosures exclusively on is the Official foreclosure website owned by Fannie Mae. Fannie Mae HomePath mortgage: low down payment, no appraisal needed, and no PMI JanuFannie Mae’s mandatory waiting period after bankruptcy, short sale, & pre-foreclosure is just 2. I used the Fannie Mae mortgage loan look up tool and the results show that Fannie Mae is not the owner of my loan. is the Official foreclosure website owned by Fannie Mae.
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