Do loan officers work for the government?

[Jack Cheadle]

Let me try to get my understanding correct and please help me where I am wrong. 

1. Loan officers for conventional mortgages, no matter which bank, don't really sell you the money from their bank. They sell you a Fannie or Freddie mortgage and the loan officer/bank makes a little on the spread and that is how they profit. Which means, most every conventional lender is just a middle man between us. 

2. Fannie and Freddie are government funded programs full of tax money and pretty much everybody in America's mortgages. And this money is either our tax dollars being sold back to us or is not really money at all and just numbers in a computer. 

3. Those mortgages are packaged up and gambled against on Wall Street, where our mutual funds from our retirement accounts are making their money. 

Conclusion: Loan officers are puppets for the government and we are letting the government control the interest rates in the country by using conventional mortgages.

Does that sum it up?

[Wayne Brooks]

Huh?

Conventional lenders Do lend you their own money, then they sell your mtg to Fannie/Freddie.

Fannie and Freddie are Not funded by the government.

Fannie and Freddie loans don't get bundled up and sold as securities.....other private money loans got securitized this way.

Conclusion: Maybe you've read too many conspiracy theories?