Fannie Mae (FNMA)

[Robert from yahoo bd]

Keeping the GSES in perpetual CONservatorships is a WIN/WIN for the FHFA:

(1). No complaints from the NAR, MBA, and the Financial Establishment as they can attempt to capture the FHFA's Sandra L Thompson into directing more subsidies for their direct and indirect beneficiaries.

(2). With NO POLITICAL PRESSURE, Sandra L Thompson can simply say, "We're working on exiting from the conservatorships, but there's a lot of work ahead!"

(3). The Gubmint gets $500m/yr FREE, extracted from the GSES capital to fund the FHFA (it's time for office remodeling for the FHFA executives !

(4). Sandra L Thompson can continue shelling out freebies through subsidized mortgage loan offerings to the current administrations target market voter base.

(5). By pretending that the federal government doesn't own 80% or more of the GSES, it keeps $7T + in MBS off the federal government balance sheet.

AMERIKA, MY KINDA PLACE !