I received an email yesterday announcing Fannie Mae has extended their offer to pay up to 3.5% in closing costs for certain buyers.  It really ticked me off!  Not because they are paying closing costs for some. I'm a real estate Broker and agent and realize and appreciate incentives help buyers achieve the American dream.

It ticked me off  because not long ago such incentives in the private sector were blamed as part of the problem that led to the housing and banking crises. During the blame portion of the crises such incentives were labeled along the lines of "enticements". Enticements that caused otherwise unable buyers to buy homes they couldn't afford.  Enticements by greedy lenders and bankers preying on unsuspecting "working class" folks.

But now years later, thousands of pages of regulations have effectively put the small lender out of business and did the opposite of solving the "too big to fail" issue, they think incentives are good again. Now that they are in control of the assests/profits incentives are good.   Remember when "obscene profits" in lending/banking were part of the battle cry of liberals and government types for more regulation? Have you seen Fannie's latest profit news?

Oh the irony of it all!