Talk:Mortgage GSE controversy
From Wikipedia, the free encyclopedia
 |
This article is within the scope of the Business and Economics WikiProject. | |
| ??? | This article has not yet received a rating on the assessment scale. | |
| ??? | This article has not yet received an importance rating on the assessment scale. | |
Kafziel and Cimm have made substantial changes to the version of this page that I created. These changes contain several errors. Most prominent is the claim that GNMA is a GSE. It is, of course, not a GSE but a government corporation. At the end of this article a GSE is defined as bringing private capital to a public purpose. GNMA, as a government corporation, does not have any private capital. Other editors may wish to note, for example, that GNMA's website, www.ginniemae.gov, is in the .gov TLD, while GSEs, such as FNMA and FHLMC, and Farmer Mac, are all in the .com TLD (fanniemae.com, freddiemac.com, farmermac.com). The claim is also made that GNMA securitizes only FHA and VA loans - but GNMA also securitizes Rural Housing Service loans. The claim is made that 'these loans have higher risk, and therefore higher interest rates.' There is no obvious antecedent to 'these' so there is no way to tell which loans are being compared to which loans, or which loans are supposed to have higher risk, nor any mention of what the 'risk' is that is supposed to be higher, credit risk, prepayment risk, liquidity risk? Barring the presentation of evidence to the contrary I plan, in the next few days, to revert this page to the last draft that I created.Vnnc vnnc 22:38, 28 October 2006 (UTC)
- I didn't make any changes. I reverted Cirm's changes. Some of them, at least. Kafziel Talk 23:02, 28 October 2006 (UTC)
I added links to Congressional hearings on the topic and a website created at the start of the controversy.Cirm 14:53, 30 October 2006 (UTC)
Despite Kafziel's claim to the contrary, his edits changed the text back to a claim that GNMA is a GSE, back to the claim that GNMA does not expose the taxpayer to further risk, and undoes several other corrections that I made in this article. Please, before making any more changes, have the courtesy to at least attempt posting evidence for your claims - what proof do you have that GNMA, a government corporation, is a GSE? What proof do you have the GNMA does not expose the taxpayer to further risk, evidence to set against the line item for GNMA in the Budget of the United States (available at opm's website via a search engine search for Budget of the United States) for losses, or the statements on ginniemae.gov which indicate that they provide insurance to purchasers of mortgage backed securities (please explain why anyone would purchase insurance when there is no risk). Please don't make changes to the text without some evidence that the changes are correct.Vnnc vnnc 02:17, 31 October 2006 (UTC)
- I don't have any evidence of anything, because I didn't change anything. My only edits to this page have been reverting spam. That means I found an older version of the page and made it the current version. If you don't like the version I used, you're certainly free to edit the page. Perhaps you should step back for a bit and take a break; there are plenty of other articles on Wikipedia and if you take some time off from this one you may gain some perspective. In any event, I'd appreciate it if you would assume good faith and stop accusing others others of wrongdoing. Kafziel Talk 13:07, 31 October 2006 (UTC)
