Recent Updates from the Investors Unite Blog
Release: Investors Unite Commends Rep. Blackburn for Housing Legislation that Honors Obligations to Investors, Restores Rule of Law
Thursday, March 26th, 2015
FOR IMMEDIATE RELEASE [email protected]
March 26, 2015
Investors Unite Commends Rep. Blackburn for Housing Legislation that Honors Obligations to Investors, Restores Rule of Law
WASHINGTON – In response to legislation introduced today by Representative Marsha Blackburn to address the treatment of revenues from the government sponsored enterprises Fannie Mae and Freddie Mac, Investors Unite executive Director Tim Pagliara released the following statement:
“We congratulate Rep. Marsha Blackburn for introducing legislation to protect taxpayers, honor obligations to investors and restore the rule of law.
“As long as Congress and the Administration remain paralyzed in addressing the fate of Fannie Mae and Freddie Mac, revenues generated from the GSEs should be placed in a reserve fund to cover possible losses of the GSEs, as Rep. Blackburn proposes.
“This is a meaningful proposal to end the “Third Amendment sweep” and shut off an illegal revenue stream for the Treasury.
“As top federal government officials have finally started to acknowledge, the undercapitalization of Fannie and Freddie threatens to put taxpayers on the hook for another bailout. This could have been avoided had the GSEs been allowed to keep their profits, as intended under the Housing and Economic Recovery Act. We urge Congress to move quickly to pass this legislation.”
About Investors Unite: Formed by Tennessee activist investor and CapWealth Advisors Chairman and CEO, Tim Pagliara, Investors Unite (www.investorsunite.org) is a coalition of over 1,400 individual Fannie Mae and Freddie Mac shareholders from all walks of life, committed to the preservation of shareholder rights for all invested in the GSEs.
Read more Investors Unite blogs here
Fannie And Freddie: New Bill Establishes A Secondary Reserve To Protect Capital
Seeking Alpha - March 26, 2015
Congresswoman wants to put Fannie, Freddie profits in escrow
HousingWire - March 26, 2015
Fannie Mae: Economy to Make a Comeback in Second Quarter
The MReport - March 23, 2015
Fannie And Freddie: Political Winds Shift In Favor Of Retaining Earnings
Seeking Alpha - March 18, 2015
House Democrats kick off housing finance reform debate
The Hill - March 19, 2015
Senators push back against using guarantee fees to offset spending
The Hill - March 17, 2015
GSE Litigation Update
ValuePlays - March 17, 2015
FHFA watchdog: Another Freddie, Fannie bailout could happen
HousingWire - March 18, 2015
Fannie, Freddie Could Be at Risk of Needing More Government Funds
The Wall Street Journal - March 18, 2015
Will Freddie Mac Require Another Draw from Treasury?
DSnews - March 16, 2015
Real Reform for Fannie & Freddie
Current legislation needs to be amended in order for all investors – pensioners, community banks and individuals – to be repaid and create a solid platform for the mortgage market to thrive.
- Repayment of Pensioners, Community Banks and Individuals invested in Fannie and Freddie.
- Stricter lending standards and oversight of Fannie and Freddie.
- Affordable housing goals reinstated and upheld under stricter oversight.
Click here for more information
Investors Unite works to educate Fannie Mae and Freddie Mac shareholders and lawmakers of the importance of reforming the GSEs in a way that will reimburse shareholders what they are contractually and legally owed, but have not been paid.
The United States Congress is considering Government Sponsored Enterprise (GSE) reform that would wipe out Fannie Mae and Freddie Mac shareholders for good. These shareholders include everyday Americans such as public service retirees, teachers, firefighters and police officers. These individuals and pension funds invested in the GSEs before, during, and after the conservatorship and should be made whole under any reform. Taxpayers have been repaid with interest for their 2008 bailout of the GSEs.
Our country’s respect for the rule of law demands that private property rights be protected and Investors Unite gives Fannie Mae and Freddie Mac shareholders a voice in that fight.