Fannie Mae-No Politics (FNMA)

[Rodney5]

Barron, this writing is for your readers...

FEDERAL NATIONAL MORTGAGE ASSOCIATION CHARTER ACT
SEC. 304. SECONDARY MARKET OPERATIONS
Quote: (c) PURCHASE OF OBLIGATIONS BY TREASURY; CONDITIONS AND RESTRICTIONS. The Secretary of the Treasury shall not at any time purchase any obligations under this subsection if such purchase would increase the aggregate principal amount of the Secretary’s then outstanding holdings of such obligations under this subsection to an amount greater than $2,250,000,000." End of Quote

Barron said Quote: " Isnt it interesting that Congress temporarily authorized Treasury to exceed the statutory limit of owning 2 trillion in FNMA obligations when they allowed in Section 304 of the Charter Act for Treasury to purchase FNMA obligations and securities to stabilize the markets and FNMA balance sheets? Funny, I cant find where Congress tells Treasury to let the Fed do it instead. You can go create an illegal 200 billion commitment instead and use it to Nationalize the GSEs." End of Quote

Charter Act
Link: https://www.sec.gov/Archives/edgar/data/310522/000031052219000385/fanniemaecharteractex31.htm

Evidence

The Toxic Waste seems to have been funneled through Fannie to the Fed.

Quote: "It's a big event that the Federal Reserve is offering to buy up nearly 10% of the agency mortgage market," said Art Frank, a mortgage strategist with Deutsche Bank Tuesday morning, the Federal Reserve announced that it would buy up to $500 billion of mortgage bonds guaranteed by Fannie, Freddie and Ginnie Mae, providing the ultimate support to prop up the $4.8 trillion market of these securities. The central bank also will buy $100 billion of the mortgage finance companies' debt securities, including that of the Federal Home Loan Bank, through reverse auctions starting next week. So far, other initiatives to prop up the market including a plan to have both the government-sponsored enterprises buy nearly $200 billion of these bonds and the U.S. Treasury's unlimited purchase of these bonds have done little to stop the weakening of risk premiums on mortgage bonds. As a result, mortgage rates have remained at elevated levels with little relief to consumers." End of Quote

Link: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=33791597

The Fed Quantitative Easing monetary policy violated the Charter Act by running the mortgages through Fannie and Freddie.