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  • Comment Detail

  • Date: 12/17/13
    First Name: Steven
    Last Name: Sovare
    Organization: N/A
    City: N/A
    State: N/A
    Attachment: N/A
    Number: 2013-N-18

  • Comment

    December 17, 2013

    RE: public comment on plans to reduce the maximum loan sizes purchasable by Fannie Mae and Freddie Mac.

    Dear FHFA:

    As a licensed mortgage loan originator of a NYS Mortgage Bank, I stress that the FHFA leave the maximum loan sizes purchasable by Fannie Mae and Freddie Mac alone. Kindly, ‘put-to-bed’ the idea of reducing those loan sizes. Your focuses are in the wrong areas at this time.

    My comment sways highly on the fact that the United State government’s debt ceiling has exceeded limits unconscionable to the American people. Moreover, our government is asking us to raise their borrowing power, another Elude Christ request. For once, leave well enough alone. Our industry is over thought, over regulated in all the wrong areas, this being one of them; and under enforced is the areas more simplified that you can’t even see.

    Overwhelmed, go back to the beginning and look at the “individuals” of this industry, shore up the good from the bad in all areas of banking, FDIC Banks, Credit Unions, Mortgage Brokers, Mortgage Banks etc. Even the playing field, everyone should have the same licensing requirements and education and background checks whether you are a Broker, an Attorney, a Banker, a Bank, a Servicer, a Union etc….Rid of those who don’t belong, further cleansing the system and the rest will fall into place. Working backwards isn’t the answer. Simplifying who’s working with the money

    Steven Sovare