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Thread: Anyone get burned by Fannie Mae

  1. #1

    Default Anyone get burned by Fannie Mae

    I was just wondering, They Got Me Big time....

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    I considered buying in a few times.. but now I am glad I didn't. Though, I probably would have been in it for the short gain since it was so volatile. But yeah, today was ouch for that stock.

  5. #5


    Quote Originally Posted by ballucanb View Post
    I was just wondering, They Got Me Big time....
    Actually people burned Fannie Mae. They took out mortgages they couldn't afford at least before the rates adjusted on them. This is why you should never go with adjustable mortgages no matter how low since they have every right to raise the interest percentage on you. I am not blaming just the people who never bothered to read the fine print on their mortgages, some blame is on Fannie Mae too giving them out to people who can't afford it.

    Now not only does the lender pay the price, the people who were stupid to get mortgages they could never pay off but the people paying their mortgages are now screwed as well. The lesson in all of this is read the damn fine print especially on mortgages you take out on your homes.

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    Well, by the timing I'd say he probably meant being burned as a shareholder. Today the stock lost ~80% of its value.. which, is not good if you invested last week or recently.

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    Oh, I thought Fannie Mae was actually setting people on fire.
    I'm sorry...


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    Odd I thought Nevil Covote or whoever from Fox News said the Dow jumped about 280 points today after the government took over Fannie May and fredie Mac.

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    The market as a whole went up, but FNM and FRE shares tanked, down under $1/share.

  10. #10


    The thing was the stock was highly recommended, and rated AAA and this should have not happened, and I'm only in it a few months, so got screwed, I may have gotten 1% in dividends out of my money.

    There are too many people who lost big bucks, because there were alot of people with small amouts invested, and the government does not care about the individual investor, and you can bet your ass no government official lost any money.

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