Fannie Mae-No Politics (FNMA)

[kip128932156]

No clue. Who is French Hill

Introduced by Representative French Hill, H.R. 4560, the GSE Jumpstart Reauthorization Act of 2017, extends for one additional year through January 1, 2019, the GSE Jumpstart Act. The GSE Jumpstart Act prohibits the sale of Treasury-owned senior preferred shares in government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac without congressional approval and expresses the sense of Congress that Congress “should pass and the President should sign into law legislation determining the future of Fannie Mae and Freddie Mac, and that notwithstanding the expiration of subsection (b), the Secretary should not sell, transfer, relinquish, liquidate, divest, or otherwise dispose of any outstanding shares of senior preferred stock acquired pursuant to the Senior Preferred Stock Purchase Agreement until such legislation is enacted.” The legislation further conserves the GSEs’ capital during periods of low net worth. Specifically, for any period that the GSEs do not make their full required dividend payments to taxpayers (via the U.S. Treasury), the GSEs’ contributions to the Housing Trust Fund would be suspended for that fiscal year.