Comments on: Filed Under ‘Ya Can’t Make This Up’ – Freddie Mac

By: Fannie/Freddie Put the Noose Around Investors’ Necks with New Lending & Underwriting Policy Changes

Thu, 10 Dec 2009 23:25:06 +0000

[...] has now decreed that first time investors, regardless of all the aforementioned underwriting improvements, must [...]

By: Navigating the Continued Real Estate Market Turbulence

Navigating the Continued Real Estate Market Turbulence — Tue, 08 Dec 2009 16:53:36 +0000

[...] push to speed up the short sale process; Fannie’s proposed new rules requiring investors to have two years of property management experience as part of the approval process; and there will [...]

By: BawldGuy

BawldGuy — Sat, 05 Dec 2009 03:28:15 +0000

I’d love to. I’m away tomorrow takin’ care of family business outa town. why don’t you email me? I’d be happy to write my thoughts and send ‘em to you.

By: Joshua Dorkin

Joshua Dorkin — Sat, 05 Dec 2009 03:25:28 +0000

I got to the blog every few days . . . I definitely need to get better with dropping my thoughts/notes, though.

As you and I’ve spoken about before, I don’t think we’ll see it end anytime soon.

Want to swing by with a guest post with more details/thoughts on the subject? It would be great to have you and your slant on things over at BP.

Thoughts?

By: BawldGuy

BawldGuy — Sat, 05 Dec 2009 03:18:23 +0000

Hey Josh, good to see ya here.

We’ve seen so much of this irrational non-think, I think we’re becoming almost immune to stoopid.

Gotta think some of the superb writers you have over at Bigger Pockets would have much to say about this.

Don’t be a stranger, OK?

By: Joshua Dorkin

Joshua Dorkin — Sat, 05 Dec 2009 01:55:12 +0000

You must be kidding, right?!?!?! This is yet another, “what are you stupid!” move by the geniuses that we elect (and the ones they nominate).

WOW!

By: BawldGuy

BawldGuy — Fri, 04 Dec 2009 15:45:18 +0000

Good for you!!

By: Another Investor

Another Investor — Fri, 04 Dec 2009 15:28:59 +0000

I just DID pay cash for a property because I can no longer qualify for the financing I have used successfully for years. Make that decades. I could have made 25 percent down payments on two more expensive properties and banked the remainder as reserves in normal times. Folks, leverage is “market clearing” because it gets strong investors into the game.

Of course, in “normal” times, I could not have bought the properties at these prices. Investors would have already sucked up the excess inventory and we would be much closer to a supply and demand balance. And unless one of you financing geniuses can come up with some leverage, I’m going to buy another one for cash at the beginning of the year.

By: BawldGuy

BawldGuy — Fri, 04 Dec 2009 15:07:43 +0000

Frankly, Chris, I suspect Rod Serling is the Shadow CEO of both agencies — and he’s havin’ great fun creating new episodes. Just wish we weren’t part of the cast.

By: Chris Lengquist

Chris Lengquist — Fri, 04 Dec 2009 14:57:25 +0000

Sean, with all due respect there is not one person out there buying investment property without sufficient fund.

In fact, there are investors out there that cannot get a decent loan but could pay cash for a property…if that made any sense to do so.

Freddie/Fannie are so far removed from the realities of the market it’s getting commical. Just the other day I had someone comment on my Freddie/Fannie rant saying that Fannie wanted them to sign a doc saying they knew the property was selling for $15K over appraisal but that the buyer had to accept this and pay in the $15K to make the loan salient.

I mean, talk about detached.