I’d love to know what happens to the 5 or 7 percent after the forbearance is rectified. Is this a way for FNMA/FHLMC to pad their books on loans that they will eventually be paid in full on? At some point FNMA/FHLMC will receive their entire payment stream but the independent mortgage bankers and brokers have to “eat” 5 or 7 percent of their funds to pay for what effectively is the modification of the loan. Something is wrong with this situation. Forbearance is NOT Forgiveness!!!
Please don’t give in to lobbyists with large depository lenders. If you don’t change it I’ll explain exactly who made it so that they can’t refinance through me. I have a list of many clients in your area.
Here’s an example of just how terrible SWAMP people are. This is the response I received from the GA Congress Swampster.
Hello Larry,
Thank you for contacting me about your concern regarding consumer data protection, identity theft, and data mining. Hearing from you helps me to best represent your interests in Washington, and I am glad that you took the time out of your day to reach out to me.
Like you, I believe that Americans’ personal and private information should be properly protected. Companies should not be able to take advantage of loopholes in current federal law to collect massive amounts of information without your permission.
The Information Transparency & Personal Data Control Act will give people control over their most sensitive information and ensure that the government can enforce these regulations by empowering states attorneys general to pursue violators of this legislation. It will also give the Federal Trade Commission the ability to fine bad actors for their offenses. Please know that I will keep your views and experience in mind as I continue to explore legislative solutions to the lack of data privacy standards at the federal level in the United States.
It is truly an honor to represent you. If you have any further questions or feedback, or require assistance with a federal agency, please do not hesitate to contact me again in the future.
To sign up for my e-mail newsletter and receive updates from D.C. and Georgia, visit https://mcbath.house.gov/newsletter-subscription. You may also join me on Facebook at facebook.com/RepLucyMcBath, on Twitter at twitter.com/RepLucyMcBath, and on Instagram at instagram.com/RepLucyMcBath.
Sincerely,
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Done. And forwarded to all of my broker partners. Thanks for making this so easy!
I’ve sent to all my contacts, posted on facebook and linkedIn and sent to the CEO of my company.
I’d love to know what happens to the 5 or 7 percent after the forbearance is rectified. Is this a way for FNMA/FHLMC to pad their books on loans that they will eventually be paid in full on? At some point FNMA/FHLMC will receive their entire payment stream but the independent mortgage bankers and brokers have to “eat” 5 or 7 percent of their funds to pay for what effectively is the modification of the loan. Something is wrong with this situation. Forbearance is NOT Forgiveness!!!
Great job guys. Keep up the great work!
Done! Easy enough to do and this will hopefully make a positive impact.
Please don’t give in to lobbyists with large depository lenders. If you don’t change it I’ll explain exactly who made it so that they can’t refinance through me. I have a list of many clients in your area.
Done!
Done! Thanks!
Done!
Here’s an example of just how terrible SWAMP people are. This is the response I received from the GA Congress Swampster.
Hello Larry,
Thank you for contacting me about your concern regarding consumer data protection, identity theft, and data mining. Hearing from you helps me to best represent your interests in Washington, and I am glad that you took the time out of your day to reach out to me.
Like you, I believe that Americans’ personal and private information should be properly protected. Companies should not be able to take advantage of loopholes in current federal law to collect massive amounts of information without your permission.
The Information Transparency & Personal Data Control Act will give people control over their most sensitive information and ensure that the government can enforce these regulations by empowering states attorneys general to pursue violators of this legislation. It will also give the Federal Trade Commission the ability to fine bad actors for their offenses. Please know that I will keep your views and experience in mind as I continue to explore legislative solutions to the lack of data privacy standards at the federal level in the United States.
It is truly an honor to represent you. If you have any further questions or feedback, or require assistance with a federal agency, please do not hesitate to contact me again in the future.
To sign up for my e-mail newsletter and receive updates from D.C. and Georgia, visit https://mcbath.house.gov/newsletter-subscription. You may also join me on Facebook at facebook.com/RepLucyMcBath, on Twitter at twitter.com/RepLucyMcBath, and on Instagram at instagram.com/RepLucyMcBath.
Sincerely,
Lucy McBath
Member of Congress