Complaint Review: FREDDIE MAC - Nationwide

Freddie Mac violates both federal and state laws designed to protect borrowers from illegal lending practices.

When acting on behalf of consumers to secure collateral for a residential mortgage, the following questions must be brought to the attention of ALL Homesteaders across the United States that are unfortunately monopolized into doing business with Freddie Mac.

(1)     Will Freddie Mac attempt to bypass oversight on an appraisal based on factors other than the independent judgment of the mortgage loan originator?

(2)     Will Freddie Mac cause, or attempt to cause the mischaracterization of an assets value in conjunction with a consumer credit transaction?

(3)     Will Freddie Mac influence and encourage a targeted value for the purposes of facilitating, making, and pricing of a consumer credit transaction;

(4)     Will Freddie Mac knowingly remove or fail to require factual information from their work file that includes any and all supporting documents referenced and cited from the public record?

(5)     Will Freddie Mac knowingly transmit a misleading report that was unjustified to the Client/Borrower, the Seller, and the Lender in order to induce a consumer credit transaction therefore placing probable cause for federal wire fraud violations.

By knowingly engaging in the activities listed above, Freddie Mac commits multiple intentional acts that are flagrant and open violations of consumer rights.  The untold damage and destruction this organization executes across the nation leaves families with and excessive financial hardship they cannot ever hope to recover from.

The Freddie Mac Board of Directory that negligently and fraudulently sell toxic assets with an open lack of oversight allow these predatory practices to continue unchecked, unbridled and without sanction today.  The violations committed by the management and employees of the firms that commit these baseless acts of depravity fail in their social duty owed to another person and to society in general.  The lack of moral turpitude from the management and employees at Freddie Mac are against the customary rules of right and duty between people and these acts are contrary to justice, honesty and good moral principles.

An individual that purchases a property and engages the Homestead Act for tax relief is not the profile of a home buyer that would intentionally sell their residential property after only two years.  This effectively allows Freddie Mac to hide “undiscoverable” damages until well after the unsuspecting homesteader discovers the damage when the statute of limitations expires.  Following a judicial state ruling does not negate the act of negligence itself, and by not enforcing a proper level of care upon the employees that continually commit flagrant acts of malfeasance Freddie Mac becomes liable for the very erosion in confidence and integrity their organization represents.

The CFPB and all other bodies of federal, state, and local agencies and organizations should investigate this complaint and issue equitable disciplinary action.

Freddie Mac allows documents to be issued that include information they know or should know will influence a Client/Borrower into an improper conclusion, thereby inducing the Homesteading victim into a toxic consumer credit transaction.

The predatory practice that is tolerated by the Board of Directors at Freddie Mac continue to savagely strip equity from unsuspecting homebuyers and this activity is all transacted without a moral conscious as the management and owners at Freddie Mac hide behind the Statute of Limitations and contract of duty claims.

This predatory activity Freddie Mac encourages and indeed promotes within the management and employee hierarchy facilitates the creation of negatively amortized products that leave property owners underwater and vulnerable to foreclosure.  The service abuses committed regularly by Freddie Mac clearly continue to strip equity from the property owners of America and these abuses are against federal and state consumer lending practice. 

Doing business with Freddie Mac will result in the unsuspecting Homesteader contractually assuming a loan that far exceeds the value of the property/collateral the borrower is signing for.  This WILL directly impact the Homesteaders ability to re-finance or sell their home as described and will continue to burden families with a high-interest, predatory loan from which the family cannot escape.

The immeasurable financial and family damage this immoral organization is causing across the country is a micro example of the lack of enforcement federal statutes mandate to safeguard all current and future home buyers.  By not implementing proper disciplinary measures to prevent predatory appraisal practice the state and national economies will continue to suffer from the damaging effects of these Predators. 

The violations committed by these mortgage originators, to include their open defiance and declaration to hide behind “contract of duty” and “statute of limitations” claims should be utilized by The CFPB as a case study to investigate implementing additional safeguards that protect homesteaders from future predatory Freddie Mac transactions.  Without implementing and enforcing disciplinary action on those that violate established ethical standards, the CFPB and ALL other federal and state agencies will continue to allow millions of dollars to disappear from the pockets of American homesteaders.