The Fannie Mae Homepath Program: Fraud and Unethical Practices

This episode will discuss fraud and corruption in the Fannie Mae HomePath program and the role of Fannie Mae and its alleged commitment to provide low to moderate income housing to families as well as the fraudulent role of investors and real estate agents. We will discuss the lack of federal monitoring. We will discuss how properties are sold to investors seeking financial gain as oppose to families in need of affordable housing.  We will discuss how properties are sold, foreclosed and then sold again by the same people and same realtors after foreclosure.  An example:  County records show the same owner since 2004 for a property, but is has "sold" and foreclosed 3 times since 2004. The same people name have appeared over and over again since 2004 concerning these properties.  CEO of Fannie Mae and Chase have failed to address these ongoing abuses.

07/04/14

Listing removed

$389,900

$47

RE/MAX Legacy  

06/20/14

Price change

$389,900-6.0%

$47

RE/MAX Legacy  

05/12/14

Price change

$414,900-5.7%

$50

RE/MAX Legacy  

03/13/14

Listed for sale

$439,900+1.5%

$53

RE/MAX Legacy  

02/05/14

Sold: Foreclosed to lender

--

$0

Public Record  

01/23/14

Listing removed

$433,500

$52

Berkshire Hath...  

11/07/13

$421,000

03/30/12

Listed for sale

$570,000+1.8%

$69

Prudential Geo...  

01/09/08

Sold

$559,900-29.9%

$67

Public Record  

06/05/07

Sold

$798,238-16.0%

$96

Public Record  

04/12/04

Sold

$950,000

$115

Public Record