LTS Posted September 21 Report Share Posted September 21 10 hours ago, Porous Five Hole said: I’m not in any way disagreeing with anything you said. Specific to the agencies, you’re 100% correct. However, I want to provide context as to why Fannie & Freddie exist. There are two reasons why a bank (or credit union) would prefer to hand out Fannie/Freddie money instead of their own. 1) Liquidity. This is oversimplifying, but there are stress tests for lenders. The example I would give is that a bank would need to have a dollar on deposit for every dollar they lend out. That is not the actual stress test, but it is a common sense approach. They have to stay solvent. So, what happens when the bank lends out all their available funds? They stop lending. The consumer demand for mortgages far outweighs the money banks have to lend. So they utilize Fannie/Freddie’s funds to support consumer lending needs. That’s why they exist today. 2) If the lender conforms to Fannie/Freddie’s qualification guidelines, Fannie/Freddie will help offset the bank’s losses if a loan goes bad. And why wouldn’t a lender want that? So we use them for a good reason. I won’t get into the financial crisis and the Fed bailout of these agencies which contribute to your opinion, but they serve a valuable purpose for borrowers and lenders. Just like FHA, VA, USDA, and state housing initiatives (including SONYMA in NY). Very true and important context to add. It speaks to the depths of how "money" is handled in this world. There's so much more and not just with financial institutions. They say follow the money, but it takes a pretty serious level of knowledge to attempt to do so. Quote Link to comment Share on other sites More sharing options...
bob_sauve28 Posted September 21 Report Share Posted September 21 1 Quote Link to comment Share on other sites More sharing options...
Doohicksie Posted September 22 Report Share Posted September 22 Who takes a cat camping???? Quote Link to comment Share on other sites More sharing options...
shrader Posted September 22 Report Share Posted September 22 10 hours ago, Doohickie said: Who takes a cat camping???? Quote Link to comment Share on other sites More sharing options...
Night Train Posted September 22 Report Share Posted September 22 13 hours ago, Doohickie said: Who takes a cat camping???? 1 1 Quote Link to comment Share on other sites More sharing options...
Doohicksie Posted September 27 Report Share Posted September 27 Once again you can get 4 free covid tests from the gubmint while supplies last. https://special.usps.com/testkits Quote Link to comment Share on other sites More sharing options...
Stoner Posted September 27 Author Report Share Posted September 27 8 hours ago, Doohicksie said: Once again you can get 4 free covid tests from the gubmint while supplies last. https://special.usps.com/testkits They are detonatable. Word to the wise. 2 Quote Link to comment Share on other sites More sharing options...
Pimlach Posted September 28 Report Share Posted September 28 (edited) On 8/27/2024 at 8:02 AM, Doohicksie said: In the wee hours of the morning we said goodbye to Winston, our dog of 14 years. He was truly the best dog. He'd been losing mobility for most of the year and as of yesterday morning could not get up without help. He also barely touched his breakfast. By dinnertime he could no longer stand at all, even with help, and refused food and water. I've seen that before; it's a clear sign they're ready to cross over. My son slept on the floor with him; he said Winston got restless at about midnight he sat up and put Winston's head in his lap which calmed him down. Shortly after that my son noticed Winston had stopped breathing. The last picture I have of Winston before he passed: And to brighten up an otherwise dire post, here he is in better days doing zoomies on the sofa. I'll miss you Winston. You were the best dog ever. Sorry for your loss. I have been there too. Looks like a great dog and a true friend. Edited September 28 by Pimlach 1 Quote Link to comment Share on other sites More sharing options...
shrader Posted September 28 Report Share Posted September 28 We are doing some family pictures with the kids later today and it got me thinking about how much easier school pictures must be today. It was an annual rite of passage, getting those pictures back a few weeks later and my mom being mad because I didn’t smile right. 1 Quote Link to comment Share on other sites More sharing options...
SwampD Posted September 29 Report Share Posted September 29 On 9/19/2024 at 9:52 AM, Wyldnwoody44 said: The new scheming I was told by a financial advisor is that you're going to be punished for good credit.... I can't make sense of it all. Too complex On 9/19/2024 at 8:26 PM, Wyldnwoody44 said: I don't have the specifics, but apparently if you have better credit then you will actually be getting charged at a higher rate, apparently those with credit 600-650 will obtain the best rate. It's def politically motivated, but again I haven't looked into it, just was told this from a trusted financial person. On 9/19/2024 at 8:30 PM, Weave said: Not quite. Specific to Fanny Mae and Freddie Mac programs, fees are lower for folks with lower credits scores, not the rates. On 9/19/2024 at 8:33 PM, Wyldnwoody44 said: Ah, maybe that makes sense. I have a hard enough time keeping track of my write offs for my 1099 On 9/19/2024 at 8:48 PM, Weave said: Def don’t trust that trusted financial guy. His information appears……. Slanted. Sounds like when a betting line moves to get more people interested in a game. Quote Link to comment Share on other sites More sharing options...
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