June 20, 2014
Good Afternoon, Investors!
This week, Investors Unite Executive Director Tim Pagliara filed a response to the Federal Housing Finance Agency's (FHFA) request for input on the proposed increase to guarantee fees (g-fees) that Fannie Mae and Freddie Mac charge lenders. On behalf of Fannie and Freddie shareholders, Mr. Pagliara encouraged FHFA Director Mel Watt to consider the new proposed policy in context of the Treasury Department's 100 percent net worth sweep of the enterprises.
In the letter Tim Pagliara stated, "As long as Treasury is taking all of Fannie and Freddie's profits, any increase in g-fees would amount to nothing more than a new tax applied to general deficit reduction. Ultimately, profits accumulated from g-fees and other business of Fannie and Freddie should be allowed to stay within the housing market and should be set at levels that help ensure safety and soundness of the GSEs, that protect long-term health of the housing market, and that respect the rights of all economic stakeholders-including the GSE's shareholders."
Also the letter included a recommended set of principles that Director Watt and the FHFA should be considered for g-fees following reversal of the 2012 net worth sweep. Please find them as well as the full letter from Tim Pagliara here.
As always, provided below are a complication of relevant coverage to provide you an overview of the GSE Reform landscape. These and other relevant news items can be found at www.investorsunite.org/headlines.
Have a great weekend.
Investors Unite
info@investorsunite.org
Fax: 1-703-890-2461
Phone: 866-288-3537 _________________________________________________________________________
Investors In the News:
Inside Mortgage Finance: GSE Investor Group Wants FHFA to Hike G-Fees
Press Release: Fannie-Freddie Shareholder Coalition Responds to the Federal Housing Finance Agency (FHFA) Request for Input on Proposed Increased Guarantee Fees
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Other News Highlights:
Real Clear Markets: What Is the Federal Government Hiding About Fannie Mae and Freddie Mac?
Newsmax: Cantor's Loss is Warning Shot to Cronyism and Johnson-Crapo Supporters
Value Walk: Fannie Mae, Freddie Mac: OCED Weighs In On Crapo-Johnson
Washington Post: Congress wants to know HUD won't be 'just a steppingstone' for rising star Julian Castro
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