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Wednesday, January 29, 2014

Corbett Calls for Investigation into Fannie Mae Illegally Taking Fees for Short Sales

STATE SENATE | Fannie Mae may have illegally received borrower's contributions to short sales in violation of a California state law authored by State Sen. Ellen Corbett. In a letter sent Tuesday by Corbett and Santa Rose State Sen. Noreen Evans, they ask State Attorney General Kamala Harris to investigate the collection of over $3 million in fees from over 1,200 short sales in California on behalf of the government-backed Fannie Mae.

The state law passed in 2011 was aimed at protecting California homeowners, many of which possess a disproportionately large number of underwater mortgages stemming from the Great Recession. The law specifically forbids lenders from collecting fees to begin the process of a short sale—often a last resort for borrowers hoping to retain proceeds for at least some portion of the remaining debt balance on their home loans.

Corbett was critical of Fannie Mae for allowing its smaller service providers apply the state law and urged for repayment of the fees. “Throughout this process, Fannie Mae has taken a hands-off approach, letting their servicers decide not only how to interpret the law, but also how to correct the situation without proper oversight. This is simply unacceptable,” said Corbett.

A remediation plan in response to the violation of state law was drafted by Fannie Mae last October. But, in a separate letter to its CEO Tim Mayopoulos, Corbett and Evans admonished him for failing to adopt consistent guidelines. “In effect, Fannie Mae took no initiative to ensure that California laws were followed and their borrowers protected.”

29 comments :

I'm glad a politician finally is going after those scum bags. Thank you Ellen.

Grandstanding. This is a federal matter, and she has nothing to do with it. Trying to score points in a realm that is way over her head.

IF there is anything that needs to be done, our great congressman ERIC SWALWELL will deal with it.

She's really got to stop trolling.

It's also a state issue too. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

I agree Ellen Corbett in 2014. She is a much better politician an has done more for Seniors, children,women, the environment, consumers, working families, teachers, nurses, and on and on.. Swalwell has accomplished next to nothing on the Dublin city council or since he's been in Congress.

Grandstanding. This is a federal matter, and she has nothing to do with it. Trying to score points in a realm that is way over her head.

IF there is anything that needs to be done, our great congressman ERIC SWALWELL will deal with it.

She's really got to stop trolling.

It's also a state issue too. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

Grandstanding. This is ONLY A FEDERAL matter, and she has nothing to do with it. Trying to score points in a realm that is way over her head. What a pathetic dumb bitch you are, Space HO. The facts need to be explained, one more time.

IF there is anything that needs to be done, our great congressman ERIC SWALWELL will deal with it.

She's really got to stop trolling.

t's also a state issue too. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

Wow, when you start calling people names you really know you have lost the argument and the election. Temper Temper Swalwell staffer.

Well look the unintelligent anti union troll who knows nothing about politics or the top 2 voting system resorts to sexist name calling like a child when he's losing an argument.

It's also a state issue too. Many people across the nation including California and the Bay Area were affected. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

Grandstanding. This is ONLY A FEDERAL matter, and she has nothing to do with it. Trying to score points in a realm that is way over her head. What a pathetic dumb bitch you are, Space HO. The facts need to be explained, one more time.

IF there is anything that needs to be done, our great congressman ERIC SWALWELL will deal with it.

She's really got to stop trolling.

Wow, when you start calling people names you really know you have lost the argument and the election. Temper Temper Swalwell staffer.

Well look the unintelligent anti union troll who knows nothing about politics or the top 2 voting system resorts to sexist name calling like a child when he's losing an argument.

It's also a state issue too. Many people across the nation including California and the Bay Area were affected. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

If you can cut and paste, so can I. Drum roll:

Wow, when you start calling people names you really know you have lost the argument and the election. Temper Temper Swalwell staffer.

Well look the unintelligent anti union troll who knows nothing about politics or the top 2 voting system resorts to sexist name calling like a child when he's losing an argument.

It's also a state issue too. Many people across the nation including California and the Bay Area were affected. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

9:00 AM You are definitely a Swalwell staffer and seem to be posting during work hours which is illegal.

Grandstanding. This is ONLY A FEDERAL matter, and she has nothing to do with it. Trying to score points in a realm that is way over her head. What a pathetic dumb bitch you are, Space HO. The facts need to be explained, one more time.

IF there is anything that needs to be done, our great congressman ERIC SWALWELL will deal with it.

She's really got to stop trolling.

Wow, when you start calling people names you really know you have lost the argument and the election. Temper Temper Swalwell staffer.

Well look the unintelligent anti union troll who knows nothing about politics or the top 2 voting system resorts to sexist name calling like a child when he's losing an argument.

It's also a state issue too. Many people across the nation including California and the Bay Area were affected. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

Memo to the SPACE HO!

Grandstanding. This is ONLY A FEDERAL matter, and she has nothing to do with it. Trying to score points in a realm that is way over her head. What a pathetic dumb bitch you are, Space HO. The facts need to be explained, one more time.

IF there is anything that needs to be done, our great congressman ERIC SWALWELL will deal with it.

She's really got to stop trolling.

Wow, when you start calling people names you really know you have lost the argument and the election. Temper Temper Swalwell staffer.

Well look the unintelligent anti union troll who knows nothing about politics or the top 2 voting system resorts to sexist name calling like a child when he's losing an argument.

It's also a state issue too. Many people across the nation including California and the Bay Area were affected. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

Wow, when you start calling people names you really know you have lost the argument and the election. Temper Temper Swalwell staffer.

Well look the unintelligent anti union troll who knows nothing about politics or the top 2 voting system resorts to sexist name calling like a child when he's losing an argument.

It's also a state issue too. Many people across the nation including California and the Bay Area were affected. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

Wow, when you start calling people names you really know you have lost the argument and the election. Temper Temper Swalwell staffer.

Well look the unintelligent anti union troll who knows nothing about politics or the top 2 voting system resorts to sexist name calling like a child when he's losing an argument.

It's also a state issue too. Many people across the nation including California and the Bay Area were affected. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

Memo to the SPACE HO!

Grandstanding. This is ONLY A FEDERAL matter, and she has nothing to do with it. Trying to score points in a realm that is way over her head. What a pathetic dumb bitch you are, Space HO. The facts need to be explained, one more time.

IF there is anything that needs to be done, our great congressman ERIC SWALWELL will deal with it.

She's really got to stop trolling.

It's also a state issue too. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

Can't be both.

This is FEDERAL. Really good thing that you don't work in government. We'd have an even more screwed up system than we already do.

Clock continues to tick. Soon she won't be able to do anymore damage to the state come the end of the year. She'll be a whoring lobbyist in Sacramento shortly.

It's also a state issue too. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

Sorry, only Federal.

Really have no understanding of government. Stick to using your food stamps.

Sorry, State issue too!

It's also a state issue too. Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

What a stupid something you are. Thank the good lord you don't work in government. An issue such as this has NO bearing on the state; Whorbett is simply trying to exploit it the way she has desperately been trying to become relevant. That ship sailed long ago.

Must be very difficult for you, Space HO, to know that old Ellen has no $$, no endorsements, and no issues. She's destined to be kicked to the curb where she belongs.

But not to worry. She will have an abundance of time to learn how to bake cookies, sip lemonade, and sit in a rocker next to old Fortney. Course, they're both bound to fall off.

Who's supporting her? The answer: NOT ANYONE!

Ha! Ha!

Pack your bags Swallwell staffer, you and your do nothing boss will soon be gone. Talk about a troll, you are one. I'll be voting for Ellen Corbett who takes up causes your boss wouldn't touch.

The gutter is where we find you and your crooked congressman!

Ellen Corbett is more trustworthy. True dat.

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