Petition White House to force Fannie Mae to behave responsibly

I came across a petition to the White House and it struck me that this is a good vehicle to maybe rein in FNMA's games. So, I added a petition. It requires 150 people to "sign" it to make it visible on the site - then requires 100,000 signatures within a month to be presented to the White House.

Here is the long URL to see/sign: https://petitions.whitehouse.gov/petition/force-fannie-mae-behave-r...

and this is the short URL for the same: http://wh.gov/VY24

Here is the text: Fannie Mae admits to demanding 20% more than market value for short sale properties - forcing homeowners into foreclosure. They then offer the properties to the public on their homepath.com website at 20% above market value and will give a federally sanctioned Fannie Mae bad loan for this price if the buyer "takes advantage" of not paying for an appraisal. These are the type of manipulations which destroyed the property market. As a federal bailout, Fannie Mae should be forced to act ethically and responsibly or they should be shut down.

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My thought is that with 150 signatures, a news team might come across it and give it traction. That could be enough to embarrass the White House and/or FNMA into doing the right thing. Of course it would be very cool if we actually got 100,000 signatures and this landed on the White House lap.

I think we all see that normal actions are not working with this loose cannon investor. So, how about putting your vote on it to make it visible?

2 members like this

Replies to This Discussion

Permalink Reply by Barbara Thomas on January 26, 2013 at 2:37pm

Good for you -- I'm in. I was "Fannie Maed" two more times this week. The pattern is becoming embarrassingly obvious: good offer submitted (typically equivalent to a previously short sale-approved offer); long, long review delays; and suddenly - voila - the BPO has expired! A new one has to be ordered. A counter offer comes back from the Servicer that is significantly above the previously-approved offer -- and it is questionable whether the counter offer is a true reflection of the BPO. Minimally, the counter is out of synch with market value. I even have a case where the property was a condominium with multiple like-comps and these were apparently all ignored. This is not only irrational, it is financially irresponsible. American taxpayers -- including us and the homeowners -- still have a significant stake in in both Fannie Mae and Freddie Mac. We have a right to demand a more transparent process.

Permalink Reply by Mike Linkenauger on January 27, 2013 at 3:55pm

Getting the word out on this some... We'll have 1,000 by tomorrow!!

Permalink Reply by Wendy Smith on January 28, 2013 at 4:15am

C'Mon Florida!!! Let's show 'em to sign & spread a petition!!! I've sent the petition to everyone in my network, posted it, tweeted it, etc - YOU need to do the same!

Permalink Reply by joe beauchamp on January 28, 2013 at 9:39am

It's rockin' http://petitions.whitehouse.gov/petitions - it is the 1st one (at the moment). I hope people who have contacts with news shows, etc. who have done articles on this will let them know that the petition is there - can't hurt.

Permalink Reply by Mike Linkenauger on January 28, 2013 at 11:11am

Continuing to spread the word through our network. Still hoping for 1,000 before the end of the day!!!

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