fannie mae Archives

Teaparty Founder On The Run – Hasn’t Paid His Mortgage in 3 Years

Fannie Mae has been looking for John Kuzmanich, but John is no where to be found. The mortgage lender even sent processors to his know locations 19 different times, but still, no luck.

It’s as if Kuzmanich fell off the face of the Earth!

John should practice what he preaches.
The founder and chairman of the Oregon Tea Party is often seen on television and radio shows, bemoaning the government for not living within its means.

Six days into the Government Shutdown, John made an appearance on KATU Channel 2’s Your Voice, Your Vote on Oct. 6 and expressed support for the Tea Party/Republican shutdown.

“We are just good and decent principled Americans who believe in the Constitution and a fiscally responsible government,” Kuzmanich said.

That statement was made 3 years into his apparent decision that fiscal responsibility doesn’t apply to him.

Back in 2009, Kuzmanich made the decision to run for Congress representing Oregon’s 1st Congressional District. He finished third out of four in the Republican primary, getting 28% of the vote. On his website, Kuzmanich said, “We need to decrease the size of government and make it live within its means just like we do.”

Maybe his lack of mortgage payment to the federal agency that loaned him $361,000 for a duplex on Southwest 150th Avenue in Beaverton, is Kuzmanich’s way to “decrease the size of government,” or maybe he is just another teabagging hypocrite. Whatever he is, John is on the run, and Fannie Mae has been unsuccessful in locating him.

After visiting his last known address back in June to serve the papers, the server wrote in an affidavit that there was “no answer at the door, no noise inside and no movement inside. No vehicles.”

On August 12, Fannie Mae’s lawyer Michael Thornicroft said, “After exercising due diligence, Plaintiff has been unable to serve defendants John Kuzmanich and Occupants of the premises, but believes they reside in Washington County.”

John Kuzmanich – a teabagging hypocrite who believes in fiscal responsibility Republican style. It’s kinda like shutting down the government for 16 days resulting in a $25 billion dollar loss to the American economy, to prove absolutely nothing.

S And P On A Downgrade Rampage

On Friday, the rating agency, S&P downgraded the United States credit from AAA to AA+. A move the agency claims was necessary because of the constant political battles fought in Washington by the two political parties. Then today, S&P added even more to their downgrade list. CBS reports;

Standard & Poor’s Ratings Services on Monday downgraded the credit ratings of mortgage lenders Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt.

The agency also lowered the ratings for: farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit unions; and three major clearinghouses, which are used to execute trades of stocks, bonds and options.

All the downgrades were from AAA to AA+. S&P says the agencies and banks all have debt that is exposed to economic volatility and a further downgrade of long-term U.S. debt. Their creditworthiness hinges on the U.S. government’s ability to pay its own creditors.

Ten of the country’s 12 Federal Home Loan Banks also were downgraded from AAA to AA+. The banks of Chicago and Seattle had already been downgraded earlier to AA+.

After receiving the first downgrade in the history of the nation, the politicians joined together and attacked S&P for its decision. On the Sunday talk shows, the suggestion was made that S&P should not be trusted, because of their long history of misleading information. Politicians also criticized S&P for what they called, a “$2 trillion mistake,” in the agency’s math when they decided to downgrade America’s credit to AA+ status.

But regardless of what the talking points are in Washington, and the criticism of S&P, one thing the agency said is correct, and reflects the unfortunate nature in Washington. S&P called out the parties involved and criticized their failure to compromise, as the main force responsible for their downgrade decision.