Fannie Mae (FNMA)

[jcromeenes]

Fannie and Freddie May Be Totally Revamped in the Blink of an Eye
You may wonder how Fannie and Freddie could be totally changed in a matter of days considering Congress has been stalemated for years on that issue. That is only the case because Mel Watt, FHFA Director, wants Congress to make the changes. Next year, President Trump gets to appoint a new FHFA Director who may decide he wants to completely change them. We have focused on the power of the CFPB Director but the FHFA Director is another unaccountable head of an “independent agency” that can do whatever he pleases.

I find this part especially interesting....

That became abundantly clear in a House Financial Services Committee hearing today featuring Treasury Secretary Mnuchin. The Director has the unchecked power to take them out of conservatorship or completely change the way they operate.