Fannie Mae-No Politics (FNMA)

[mike_usa]

U.S. Representative Ed Royce (R-CA) released the following statement in response to the Federal Housing Finance Agency’s (FHFA) announcement that it will divert money to the Housing Trust Fund and the Capital Magnet Fund pursuant to the Agency’s interpretation of the Housing and Economic Recovery Act of 2008 (HERA):

"Contrary to what Fannie and Freddie apologists claim, the GSEs have yet to repay any of the taxpayer-funded bailout funds they received, which makes today's announcement by the FHFA outrageous. Money coming in from the GSEs should go to the taxpayers instead of a slush fund for ideological housing groups to play around with.”


http://royce.house.gov/news/documentsingle.aspx?DocumentID=397595#Comments