Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

Just make it one or two pages and zero in on the relevant points:

(1). The GSES conservatorships were suppose to be temporary but are now in their 15th year.

(2). The Net Worth Sweep or 3rd Amendment to the SPSA created a Defacto Nationalization of the GSES, this is inconsistent with the primary duty of the FHFA to "conserve and preserve" the assets of the GSES in HERA.

(3). Ask Patrick McHenry to hold a meeting or at least send a letter to ask Director Thompson to see if she can work with Treasury to consider the cash sweeps as payback of both principal and the 10% annual return to expedite the exit of the federal government from the conservatorships, instead of letting the issue languish in the courts.

(4). Ending the defacto nationalization of the GSES will ensure that the federal government doesn't nationalize mortgage lending, like it did with direct student loan lending and the revocation of Sallie Mae's charter.