WOW, more finger pointing and no one wanting to take responsibility for their actions...

http://money.msn.com/market-news/post.aspx?post=a7ae879b-f1f9-4856-...

The suits will argue the banks, which assembled the mortgages and marketed them as securities to investors, failed to perform the due diligence required under the nation's securities laws and missed evidence that borrowers' incomes were inflated or falsified.

Really?  Wouldn't it also be Fannie and Freddies responsibility to perform their due diligence?  Any good business person would check facts, verify and re verify everything that was important to them.   Did Fannie and Freddie actually take the banks at their word?   Dumb, dumb, dumb.

I am waiting to see when we as realtors or as taxpayers start filing lawsuits against Fannie and Freddie for the money that they continually lose by not approving short sales and moving on to foreclosure.

As much as I think the banks are also at fault, Fannie is the investor on 80 % of the loans out there and Fannie does just as good of a job burning up taxpayer money and someone needs to step in an stop them.

How about a show of hands, how many agents here lost a GOOD short sale with a GOOD offer to Fannie Mae and Fannie Mae in turn sold the home for less after the foreclosure?