Sunday, August 30, 2020 5:10:14 PM
And so was there language under HERA that excluded DTAs? I will make an inference and say no because otherwise FnF would've been in receivership instead of the now conservatorship.
Anyway...
"The Housing and Economic Recovery Act of 2008 (Pub.L. 110–289, 122 Stat. 2654, enacted July 30, 2008) (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis. It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value. It was intended to restore confidence in Fannie Mae and Freddie Mac by strengthening regulations and injecting capital into the two large U.S. suppliers of mortgage funding. States are authorized to refinance subprime loans using mortgage revenue bonds. Enactment of the Act led to the government conservatorship of Fannie Mae and Freddie Mac."
HERA was created to address the SUBprime mortgage crisis. With the removal of that portion of FnF's portfolio as has been done over the past 12 years... Its technically not even relevant anymore by any standards. Its like you get malaria and you take chloroquinine but after you recover you keep taking it just because FHFA says so.
The capital was not the issue. It was engaging in risky businesses.
IMPROPER TREATMENT FOR THE WRONG DIAGNOSIS DR CALABRIA
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