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Administration Can Act and Should on GSE Reform

Thursday, May 18, 2017

Treasury Secretary Steven Mnuchin today reiterated to Senate Banking Committee members that GSE reform was a priority, revealing little about his strategy, and stopping well short of telling Senators he needs them to get this done. Instead, he simply welcomed the continued partnership. “We will ensure that there is both ample credit for housing and […]

Watt Stands Up for Taxpayers and Stands Up to Bob Corker at Senate Banking Committee Hearing

Thursday, May 11, 2017

Federal Housing Finance Agency Director Mel Watt today told the Senate Finance Committee he thinks it would be better to use his authority as Fannie Mae and Freddie Mac’s conservator to suspend quarterly dividend payments to Treasury than to have the companies’ depleted capital buffers set the stage for a draw on taxpayer funds to […]

The Government Has Been Paid Back. Period.

Tuesday, May 2, 2017

Under the terms of the Housing and Economic Recovery Act of 2008, which created the conservatorship of Fannie Mae and Freddie Mac, the U.S. Treasury received preferred stock paying a quarterly dividend of 10% of the companies’ profits, and 79% of the common stock in the form of warrants.  Since being advanced the money at […]

Mnuchin Confirms GSE Sweep May Have Funded Obamacare

Monday, May 1, 2017

In an interview on Fox Business News this morning, U.S. Treasury Secretary Steven Mnuchin confirmed stunning reports that officials from the last Administration used the windfall from the Net Worth Sweep of Fannie Mae and Freddie Mac’s profits for “other parts of the government.” Investors Unite noted this intriguing possibility several weeks ago when Dr. […]

Community Bankers Plan Offers Sound Roadmap for GSE Reform

Tuesday, April 25, 2017

Among the constructive recommendations in the Independent Community Bankers of America’s proposal for reforming Fannie Mae and Freddie Mac unveiled today was that the rights of the companies’ shareholders must be upheld.  Most blueprints on GSE reform offered to date either ignore or are hostile to shareholders so we welcome the ICBA’s consideration. Upholding the […]

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