In researching my own lawsuit against Fannie Mae, I ran across this stunning statement on a publicly-available Fannie Mae website (otherwise I wouldn’t have found it):
“The mortgages that back a Fannie Mae MBS are held in a trust on behalf of Fannie Mae MBS investors and are not Fannie Mae assets.”
I used it in my own lawsuit (to no avail, unfortunately) because Fannie Mae had claimed to be all of the following: the owner, holder, and investor of my note. Yet here was an admission from Fannie itself, in plain language, that the “mortgages” (i.e., the promissory notes) are NOT Fannie Mae assets, which of course negates Fannie’s claim to be an owner, holder, or investor of ANYTHING.
By the time I wrote the post “FANNIE MAE, BY ITS OWN ADMISSION, OWNS NOTHING,” I was only able to find the admission in a PDF, again on a publicly-available Fannie website. The link where I had first found the admission was dead, non-existent. So I cut and pasted the statement from the Fannie PDF back in July 2013 when I wrote the post.
That post generated new interest in the past couple of days, and a reader named P Nach commented that the “not assets” admission was nowhere to be found in the link I used. I checked it out, and sure enough, she was right! In fact when I Googled “The mortgages that back a Fannie Mae MBS are held in a trust on behalf of Fannie Mae MBS investors and are not Fannie Mae assets” (in quotes), almost all I got were links to my own blog! Apparently, this admission has been all but erased from the Internet!
Fortunately, in 2011, I printed out the admission from the Fannie website where I originally found it, then scanned that printout. So below is the document containing the “not assets” admission that Fannie Mae would apparently not like anyone to see:
So download this, print it out, pass it on. And if we aren’t already, let’s all get in the habit of making screenshots of stuff like this, and/or downloading and printing them. Shelley Erickson commented that she had also noticed documents being deleted.