Thursday, December 14, 2017 2:24:18 PM
Thursday Dec 14, 2017 ... By Carisa Chappell ...cchappell@imfpubs.com
The House Financial Services Committee Wednesday afternoon approved a bill that would suspend Fannie Mae and Freddie Mac contributions to the Housing Trust Fund if the mortgage giants don’t pay their dividends to Treasury. The panel approved the bill on a partisan vote of 33 to 27. It was one of 13 bills advanced by the panel. (So They think it will happen )
The GSE Jumpstart Reauthorization Act of 2017 (H.R. 4560) would also extend an existing prohibition that bars the Treasury from selling its shares in the GSEs without congressional approval until Jan 1, 2019. The current limitation expires Jan. 1, 2018.
Rep. French Hill, R-AR, introduced H.R. 4560 last week. In any period that Fannie and Freddie don’t make their full required dividend payments to taxpayers, their contributions to the Housing Trust Fund would be suspended for that fiscal year.
The bill appears aimed at speculation that Federal Housing Finance Agency Director Mel Watt may decide to alter the required dividend payments to Treasury for the third quarter. The payments are due by the end of this month. For more on the bill and GSE “zero capital day” quickly approaching, see the new edition of Inside Mortgage Finance.
The House Financial Services Committee Wednesday afternoon approved a bill that would suspend Fannie Mae and Freddie Mac contributions to the Housing Trust Fund if the mortgage giants don’t pay their dividends to Treasury. The panel approved the bill on a partisan vote of 33 to 27. It was one of 13 bills advanced by the panel.
The GSE Jumpstart Reauthorization Act of 2017 (H.R. 4560) would also extend an existing prohibition that bars the Treasury from selling its shares in the GSEs without congressional approval until Jan 1, 2019. The current limitation expires Jan. 1, 2018.
Rep. French Hill, R-AR, introduced H.R. 4560 last week. In any period that Fannie and Freddie don’t make their full required dividend payments to taxpayers, their contributions to the Housing Trust Fund would be suspended for that fiscal year.
The bill appears aimed at speculation that Federal Housing Finance Agency Director Mel Watt may decide to alter the required dividend payments to Treasury for the third quarter. The payments are due by the end of this month. For more on the bill and GSE “zero capital day” quickly approaching, see the new edition of Inside Mortgage Finance.
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