Fannie Mae-No Politics (FNMA)

[Rodney5]

The United States Treasury in violation of the Charter Act has failed to treat as public debt the transactions of the United States when the FHFA placed Fannie Mae and Freddie Mac into conservatorship. This obligation was never recorded as public debt as required by law.

The Charter Act the Law of the Land.

Charter Act SEC. 304. SECONDARY MARKET OPERATIONS

(c)

Terms and Rates

Quote: “All redemptions, purchases, and sales by the Secretary of the Treasury of such obligations under this subsection SHALL BE TREATED AS PUBLIC DEBT TRANSACTIONS of the United States.” End of Quote Page 14

Link: https://www.fanniemae.com/sites/g/files/koqyhd191/files/migrated-files/resources/file/aboutus/pdf/fm-amended-charter.pdf

More violations of the Charter Act,

HOUSING AND ECONOMIC RECOVERY ACT OF 2008

The United States Congress did not give to Acting Director Edward DeMarco the power to take all the future profits of Fannie Mae and Freddie Mac by conservatorship into perpetuity, by Nationalizing the GSES, based on an Incidental Power in HERA. The United States Congress would have given the FHFA more explicit instructions to do so than merely drafting into HERA to do whatever the FHFA feels is in its best interests.

Prior Approval:

THE LAW

‘‘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