Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

"In particular, Congress found a “hard learned
lesson” in the experience of the Office of Federal
Housing Enterprise Oversight (OFHEO). Id. at 163.
OFHEO was the regulator that was supposed to
ensure the financial safety and soundness of Fannie
Mae and Freddie Mac, but post-crisis analysis
concluded OFHEO’s effectiveness had been hindered
by needing to seek annual appropriations, rather than
having a steady stream of regular funding. Id.
For that reason, Congress had already chosen by
2008 to have OFHEO’s successor agency, the Federal
Housing Finance Agency, funded through
assessments on regulated entities—set at a level
determined by the Agency, with no cap—rather than
annual appropriations. Id.; Housing and Economic
Recovery Act of 2008, § 1106, Pub. L. No. 110-289, 122
Stat. 2653, 2669 (providing for agency to “collect from
the regulated entities annual assessments in an
amount not exceeding the amount sufficient to provide
for reasonable costs ... and expenses”)."