Fannie Mae-No Politics (FNMA)

[Blushing green]

Have you read the summarized bill off Jim Himes website?
http://himes.house.gov/press-release/delaney-carney-and-himes-announce-housing-finance-reform-proposal-plan-introduce

Winding Down Fannie and Freddie

The Director of the FHFA will oversee the discontinuance of the Enterprises’ ability to issue, guarantee, or purchase any mortgage-backed securities.
After the Ginnie Mae platform is established, the Enterprises will operate as one of the several anticipated monoline insurers and one of the several anticipated private reinsurers for a five year period.
By the end of the five year period, the FHFA Director will ensure that the total market share of mortgage-backed securities insured by the Enterprises in either of these capacities will not exceed 30 percent of the total market share.

This bill has a much better intent then previous ones, at least with this FnF are left with 30% of the market share.

FnF have 5.5 trillion in assets (the 90% share of the market they have currently). So lets say the total market has 6.05 trillion in assets. 30% of that is still 1.815 trillion. To me this bill shows progressive thinking by the government since they are still willing to give FnF 30% of the market. =)

PS: Let's also not forget this is the first bill that actually suggests (if only briefly) that FnF will return to the private market. A huge step imo. Take it in stridezzzzz