GSE Shareholder Group Wants FHFA to End Conservatorships Now
Inside Mortgage Finance - August 14, 2014 - August 14, 2014
Inside Mortgage Finance, By Charles Wisniowski
A group of disenfranchised Fannie Mae and Freddie Mac investors Thursday called upon Federal Housing Finance Agency Director Mel Watt to end the conservatorships of the two companies and halt what it considers to be an illegal government “net worth sweep” of their profits.
Tim Pagliara, executive director of the 800-member Investors Unite, followed Watt to Atlanta to seek a meeting with him and to put pressure on the director to acknowledge the concerns of GSE shareholders. Watt was in Atlanta as part of the FHFA’s traveling road show to promote the Home Affordable Refinance Program.
Ending government conservatorship and allowing Fannie/Freddie to recapitalize as private entities would lend needed stability to the fragile housing market, as well as allow IU shareholders a chance to recoup their investment, Pagliara said during a press conference.
Read full article: GSE Shareholder Group Wants FHFA to End Conservatorships Now