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  • Comment Detail

  • Date: 12/28/16
    First Name: Sheila
    Last Name: Bailey-Waddell
    Organization: N/A
    City: N/A
    State: N/A
    Attachment: N/A
    Number: 2016-N-13

  • Comment

    I have found the mortgage market was one that significantly contributed to the financial crisis of 2008 due to poor underwriting, unfair, deceptive acts, subprime redlining and practices, material omissions and misrepresentations that harmed borrowers; all for the profit of lenders and institutional investors along with their investment advisor affiliates. The mortgages were then repackaged and sold to Freddie and Fannie, now under FHFA conservatorship. Effective monitoring, reporting and due diligence thwarted the integrity if the system. It is my hope the FHFA will take a look retrospectively to include the discrepancies of poor reporting. What happened to the large, complex financial institutions that were FHFA lenders? I do recall FHFA filing complaint suits against them for bad mortgage practices. However, I haven't seen a resolution that would benefit borrowers that were harmed, including myself as a victim of ECOA, Reg B natural discrimination and UDAP violations.