Fannie Mae-No Politics (FNMA)

[jacklanvo99]

"The documents unsealed by Judge Sweeney demonstrate that the UST and FHFA knew, before implementing the 3rd Amendment to the PSPA which swept all future profits of Fannie Mae & Freddie Mac, the GSEs were:

1- On the verge of resumed profitability;
2- Were close to being able to use their deferred tax asset (DTA);
3- The DTA was worth close to $50 billion; and
4- The profit sweep likely was driven by the budget battle;
5- The FHFA violated key sections of the 2008 Housing and Economic Recovery Act by:
a) choosing to rely on new legislation rather than requiring the GSEs to submit a capital plan and rebuild capital;
b) violating HERA's requirement that FHFA act independently and without interference by any other government agency or department;
c) forcing the dissipation of GSE assets."

Representatives for Fannie Mae, Freddie Mac, and the Treasury Department all told HousingWire that their respective entities will not be commenting on this issue at this time.

http://www.housingwire.com/articles/36770-unsealed-government-documents-may-reveal-truth-about-fannie-freddie-fate