So, Im in a fight with Fannie–who sicked their lawyers on me for posting Fannie’s Announcements and Lender Letters on www.MortgageCurrentcy.com website.
Never mind that Fannie is a quasi-goverment agency and the info should be free to anyone (Freedom of Informatioin Act anyone?)
Never mind that when you do a Google search that there are thousands of links directly to Fannie Announcements. (okay, tens of thousands)
Never mind that Mortgage Currentcy shows up first on SEO when “mortgage Rules Fannie” is searched. (and AllRegs does not.)
So, here’s what shows up on Fannie’s website:
“The Fannie Mae Single Family Guides (the “Guides”) are posted on the AllRegs® web site of Mortgage Resource Center, Inc. (“MRC”), which posts the Guides under license from and with the express permission of Fannie Mae. MRC is the exclusive third-party electronic publisher of the Guides. Fannie Mae designates the Guides as found on the AllRegs® web site as authoritative, whether the user accesses the AllRegs® web site using the link from eFannieMae.com or by its own subscription to the AllRegs® web site. Notwithstanding this designation, Fannie Mae makes no representation or warranty regarding availability, features or functionality of the AllRegs web site.http://www.allregs.com/tpl/Main.aspx
What the hell? How is it that AllRegs has control over Fannie (and Freddie) content? Could this be one of the causes of the mortgage crisis…that there is a “gatekeeper” for the mortgage rules? And no one can find them unless you subscribe to AllRegs?
Oh, by the way, AllRegs had Freddie lawyers call me too! Wonder how they are going to monitor the tens of thousands of links to their lender letters and announcements?
Am I being singled out? You betcha!