Fannie Mae-No Politics (FNMA)

[FOFreddie]

Hi Rodney5, I just looked for the cramdown reference that Ktomph mentioned in Calabria's book. He does mention this on page 169:

" The FHFA does not have a statutory duty to expand homeownership or lower mortgage rates. The statutory charters of Fannie and Freddie apply to them, not to the FHFA. The FHFA's mission is to see that Fannie and Freddie stay within their charters, not to abandon its prudential duties in furtherance of the GSE's charters."

Thought you may be interested. Personally, I am waiting to see how the statute of limitations defense will play out in the Kelly suit regarding the charter act issues.