Fannie Mae-No Politics (FNMA)

[Rodney5]

Checkmate!
That’s a great find Barron! DeMarco didn’t follow the Law of HERA. SEC 1321

Our Friend Robert ask a few questions, I answered,

Quote: “Did the US Congress give DeMarco the power to take all the future profits of their wards in conservatorship into perpetuity, thus Nationalizing the GSES, based on an Incidental Power in HERA?”

Absolutely not, this unelected bureaucratic has been allowed to steal the companies for the Treasury.

“Wouldn't the US Congress have given the FHFA more explicit instructions to do so than merely drafting in the HERA to do "whatever it feels is in its best interests"?”

Yes, “ End of Quote

‘‘SEC. 1321. PRIOR APPROVAL AUTHORITY FOR PRODUCTS.“

‘‘(a) IN GENERAL.—The Director shall require each enterprise to obtain the approval of the Director for any product of the enter- prise before initially offering the product.

‘‘(b) STANDARD FOR APPROVAL.—

‘‘(1) in the case of a product of the Federal National Mort- gage Association, the product is authorized under paragraph (2), (3), (4), or (5) of section 302(b) or section 304 of the Federal National Mortgage Association Charter Act (12 U.S.C. 1717(b), 1719);

‘‘(4) the product is consistent with the safety and soundness of the enterprise or the mortgage finance system.

‘‘(c) PROCEDURE FOR APPROVAL.—

‘‘(1) SUBMISSION OF REQUEST.—An enterprise shall submit to the Director a written request for approval of a product that describes the product in such form as prescribed by order or regulation of the Director.
‘‘(2) REQUEST FOR PUBLIC COMMENT.—Immediately upon receipt of a request for approval of a product, as required under paragraph (1), the Director shall publish notice of such request and of the period for public comment pursuant to paragraph (3) regarding the product, and a description of the product proposed by the request. The Director shall give interested parties the opportunity to respond in writing to the proposed product.
‘‘(3) PUBLIC COMMENT PERIOD.—During the 30-day period beginning on the date of publication pursuant to paragraph (2) of a request for approval of a product, the Director shall receive public comments regarding the proposed product.

Link: https://www.congress.gov/110/plaws/publ289/PLAW-110publ289.pdf

Barron, I’m not able to PM… Will help you anyway I can. Regards