Hold on folks, this government work product is going to blow your doors off. Keep studying the fundamentals of fascism. What you will find is the nationalization of all industries, food, travel, energy, finance and homes makes anyone who would challenge any of the nationalized industries an Enemy of The State.
When I speak out against the banks, I am attacking the federal government…..everyone who dares to speak out should keep that in mind…
Speak out and they (The Agents of The Federal Government) will chop you down…..
But read this juicy report:
The Enterprises have been dealing with surging foreclosure rates,
rising REO inventories, and associated costs since the onset of the
U.S. housing and financial crises in 2007 and 2008. By the end of
2011, their REO inventories had more than tripled to nearly
180,000 units and their related expenses totaled $8.5 billion.
Further, given the financial distress in which many American
homeowners continue to find themselves, the Enterprises are likely
to face elevated REO inventories and costs for years to come.
As the Enterprises’ conservator and regulator, FHFA has a critical
responsibility to oversee their REO management efforts. A failure
in Enterprise efforts to secure and maintain foreclosed properties
could drive up Enterprise losses and cause damage in affected
communities, e.g., foreclosed properties can lower the value of
surrounding properties and increase blight and crime.
In recent examinations, FHFA concluded that the Enterprises
should significantly improve their REO management efforts. The
Agency identified deficiencies in the Enterprises’ management of
the large contractor networks they employ for many REO tasks,
including inadequate property inspections and insufficient controls
to detect fraudulent reimbursements. FHFA plans to follow up on
these findings in 2012.
Additionally, FHFA is working with Fannie Mae to implement a
pilot program under which investors may buy foreclosed properties
in bulk if they agree to offer them for rent for specified periods.
The intent of the program is to determine whether such an
arrangement is a viable means to reduce REO inventories and meet
rental demands.
oigreo