FNMA Staging Memo: Has The Industry Lost Their Collective Minds?!

Fannie Mae (FNMA) has never been what I would call the sharpest tool in the shed. Reaping the benefits of both being financed by; bailed out by; and screwing the public is much like the FNMA Mantra. In a page straight out of the preordained liability manual, FNMA must have believed that they were marketing properties in DuPont Circle and not 8 Mile in Detroit.

… properties will be provided minor staging materials such as decorative floor mats, kitchen/dining placement and decorative bathroom items.

Nothing inside the Beltway surprises me anymore. Now, it is yet to be determined whom will foot the initial bill; precisely how people like Safeguard Properties will cut an angle to back bill this bullshit; and more on point, whom is liable when this shit is stolen — the Contractor will undoubtedly foot that bill.


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