Civil Rights And Shareholders Groups Ask For FHFA Action
Oct. 29, 2014 3:59 PM ET | About: Fannie Mae (FNMA), Includes: FMCC
Disclosure: The author is long FNMA, FMCC. (More…)
Summary

Civil rights groups ask FHFA to preserve Fannie and Freddie.
The American Dream of Homeownership must be preserved for the middle class and minorities.
Fannie and Freddie must be allowed to rebuild capital.
As several pre-conservatorship shareholder lawsuits appear to be resolved with Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC), shareholders have been looking to their future. This includes the possibility of action by FHFA Director Mel Watt to end the conservatorship and strengthen the housing market.

This week, the Leadership Conference on Civil and Human Rights (civilrights.org) sent Director Watt a letter asking for the conservatorship to end.

Among their goals, they want to:

Preserve the 30-year Fixed Rate Mortgage,
Promote the American Dream of Homeownership among the middle class and minority groups,
Strengthen Fannie Mae and Freddie Mac by raising and retaining capital, and
Ending the “permanent conservatorship” of the GSEs.
Here is the text of the letter.

October 28, 2014

The Honorable Melvin L. Watt, Director

Federal Housing Finance Agency

400 7th Street SW, Ninth Floor

Washington, DC 20024

Re: RIN 2590-AA65: 2015-2017 Enterprise Housing Goals

Dear Director Watt:

On behalf of The Leadership Conference on Civil and Human Rights, we write in response to the Federal Housing Finance Agency’s (FHFA) request for comment regarding the 2015-2017 Enterprise Housing goals’ proposed rule. We greatly appreciate the leadership you have shown to date at FHFA to ensure the financial safety and soundness of the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, and for policies that will help to secure a fair and affordable housing market.

Click the link for more.
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http://seekingalpha.com/article/2612545-civil-rights-and-shareholders-groups-ask-for-fhfa-action