H.R. 1694 Passes: Fannie and Freddie Open Records Act of 2017

Homeowners start preparing your Fannie and Freddie FOIA requests.  A brief window to submit your request may occur prior to the GSEs being privatized again.

Last week H.R. 1694  passed in the House of Representatives.

This bill will make Fannie Mae and Freddie Mac subject to the requirements of the Freedom of Information Act, which would make their records available to the public on request.

The Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) are government-sponsored enterprises (private corporations with federal charters that confer special privileges) that buy mortgages from lenders and either hold those mortgages in their portfolios or package the loans into mortgage-backed securities that may be sold.

To stabilize the housing market in the aftershock of the financial crisis, the Federal Housing Finance Agency (FHFA) used its authority in 2008 to place Fannie Mae and Freddie Mac into its conservatorship. In conservatorship, the government takes control of a failing financial institution with the goal of returning it to financial health and stockholder control. Well into their eighth year in conservatorship, they have operated under government control for longer than initially expected.

The Freedom of Information Act (FOIA; 5 U.S.C. §552) allows any person—individual or corporate, citizen or not—to request and obtain existing, identifiable, and unpublished agency records on any topic. Pursuant to FOIA, the public has presumptive access to agency records unless the material falls within any of FOIA’s nine categories of exception. Disputes over the release of records requested pursuant to FOIA can be appealed administratively, resolved through mediation, or heard in court.

Source: Republican Policy Committee

19 Responses

  1. Not yet. Still sitting in Senate judiciary committee. Typical.

  2. Thank you, Anon

    Does anybody out there know when this is going to the Senate and if it passes, when it will become law?

    Thank you

  3. Bill is not passed by Senate yet

  4. I cannot find a correct address to send certified request to FOIA. I have only found addresses for finding out immigration and other issues. Thank you

  5. Freddie Fannie would not still have your loan today. But, if they are using their name, then F/F at one time held your loan. Will not be able to get this information, and how that loan was reported F/F, until the bill passes the Senate. Again, once that bill passes, and hopefully it will, we will be able to request all records — past and current, as F/F records are permanent. Must remember to go back to time prior to the loan currently in question.

  6. Anon,
    Thank you for your comment- I appreciate it. Yes, the Nov 2005 loan via American Brokers Conduit was a refinance of another loan. I purchased my home in 1996. OCWEN was the loan servicer on my 2nd, but they dropped off the face of the earth in 2010. I haven’t made a payment in over 7 years. Apparently, OCWEN closed my loan in 2011 & transferred/sold it to their subsidiary debt collector, NCI (my contact is in INDIA). I need them to release the lien on my property so I can sell it/ move, but I’m not sure what steps to take — a QWR?

    Looking back on prior loans, they all have MERS as beneficiary. I believe Washington Mutual & U. S. Bank were the two bank servicers paid off in the 2005 refi.

    I’m interested in info on my loan from Freddie to see if they REALLY have the note —- only because its appears that my current loan servicer has no idea what the terms of my note are. The terms of my loan adjusted 1.5 years ago, but they have not followed the terms of my note (in my favor- they are ONLY billing interest-)

    So, if Freddie is ACTUALLY my current note holder, wouldn’t my loan servicer request the terms of the note from Freddie??

    This is sooo convoluted. I have robosigned docs recorded at my county office. There are missing assignments, too

  7. Pissed in PDX — bill is still in senate judiciary committee. You should know that Freddie Mac purchased loans either directly or indirectly. Indirectly was through the purchase of tranche securities to the private entity trusts, which were then placed in Freddie Mac REMICs (usually number named). Given American Broker’s Conduit – it is likely that a indirect method was used. You should also find out who owned the loan prior to this refinance — assuming it was a refinance. Although the bill is still in process, you should be able to ask Freddie how it currently claims to own your loan. Freddie has sold most toxic security investments and pools of default loans.

  8. Anybody know how to go about requesting the info from Freddie? Is there a form, a template, should it be sent certified mail or done electronically, via a lawyer, etc?

    MERS registry stated Freddie owned my loan — and I have an OLD letter from freddie stating they “own” my loan, but I’d like all records because they allegedly acquired it in early 2006 — my “Pretender- Lender” in Nov 2005 was the bogus SHELL company, American Brokers Conduit.
    Thanks for any help

  9. Disgusted1 is correct. You need a complete transaction history from beginning of purchase of home to end. Need to know 1) if Freddie/Fannie ever had a interest in your property – either directly, or indirectly through a Freddie/Fannie REMIC trust, and how that interest was coded internally at Freddie/Fannie. This includes whether the loan, by a refinance, was coded as “Paid” by you, or “Closed”, and paid out by another party, and the identity of that party. If was ever in a Freddie/Fannie REMIC trust, you need to know what that trust held – specifically, did it hold securities for any private entity trust that your loan was ever alleged to have been assigned to, and how that loan was reported to Freddie/Fannie by a subsequent refinance. Records are permanent at Freddie/Fannie, they should not have been destroyed. Do not accept — “we (currently) do not own your loan.” This could be huge.

  10. Somebody needs to serve the GSE’s with a preservation order. They both destroy files.

  11. Reblogged this on Deadly Clear and commented:
    Oh boy!

  12. Just ask for a transactionl history of your debt from beginning to end.

  13. Can a FOIA template be posted in a future thread , so an individual can be aware of what information to ask of Freddie or Fannie.

  14. This is great news. I’m getting ready to go to battle against Freddie. Just wish I could go back and fight Fannie too for stealing my first house.

  15. Please read this article. It is 5 years of accumulated research into the fraud of land records aka CRIMESCENES OF AMERICA and how it ties directly into the laundering of money through stolen homes for Obamacare via Freddie/Fannie and more. Please read and share!! https://www.facebook.com/notes/rene-powers/cast-of-characters-casting-away-the-integrity-of-the-land-records-for-obamacare-/657837761083707/

  16. […] via H.R. 1694 Passes: Fannie and Freddie Open Records Act of 2017 — Livinglies’s Weblog […]

  17. If we are currently in foreclosure … what SPECIFICALLY should we ask them for? Thanks

  18. See: https://www.youtube.com/watch?v=SmqRSFfkPtg

    And…as we found the evidence for and provided about a week ago; Fannie Mae is an agent for the so-called “Government” (nothing new) who has not only provided for the bail outs to the banksters but has in turn contractually made the banksters agents for Fannie Mae and therefore sub-agents for the Government. In other words, the GOVERNMENT is the one foreclosing on us all ultimately using the money for the treasury and to fund, inter alia, Obamacare through their sub-agents the banksters, their sub-agents the “servicers” and their sub-agents the “trustees” for bogus REMIC trusts.

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