Comments on: Fed approves BofA, Countrywide purchase http://blownmortgage.com/2008/06/06/fed-approves-bofa-countrywide-purchase/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 14 Nov 2009 14:41:57 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: ghpacific http://blownmortgage.com/2008/06/06/fed-approves-bofa-countrywide-purchase/comment-page-1/#comment-12719 ghpacific Fri, 06 Jun 2008 20:20:04 +0000 http://blownmortgage.com/?p=1120#comment-12719 Supposedly, Bof A is buying CW to acquire their portfolio of residential mortgages and weed through them, keeping the choice one's and unloading Ed McMahon's plus other flotsam. Any idea on the mechanics of this? Does BofA go before a Congressional subcommittee in a few months and claim they're too big to let fail? Then does Fannie Mae buy only their non-performers with taxpayer money? How does CW's crap get transferred to us? Just curious about the inevitable and how we can keep letting our elected reps screw us. Supposedly, Bof A is buying CW to acquire their portfolio of residential mortgages and weed through them, keeping the choice one's and unloading Ed McMahon's plus other flotsam. Any idea on the mechanics of this? Does BofA go before a Congressional subcommittee in a few months and claim they're too big to let fail? Then does Fannie Mae buy only their non-performers with taxpayer money? How does CW's crap get transferred to us? Just curious about the inevitable and how we can keep letting our elected reps screw us.

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