“Fannie Mae and Freddie Mac insure the availability of 30-year fixed-rate mortgages. Home ownership has never been more affordable or sustainable during crises with Fannie and Freddie guarantees. The enterprises have been under federal control since 2008. The U.S. Treasury only recently agreed to their retaining the earnings necessary for capital safety and soundness. Treasury still has not agreed that $191 billion of “loans and fees” have been repaid – even after receiving over $300 billion of reimbursements and controlling 80% stakes. I expect The Supreme Court will recognize the rights of private enterprise and remedy this gating issue to Fannie’s and Freddie’s exit from conservatorship.”
“Fannie Mae and Freddie Mac’s businesses are booming while in conservatorships. The U.S. Treasury has finally agreed to allow them to retain earnings for capital safety and soundness. But, Treasury still refuses to acknowledge that “loan and fees” were repaid. I expect The Supreme Court will remedy the rights of two highly successful private enterprises and further their exit from federal control. Until then, preferred shareholders remain in a volatile purgatory.”
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