Fannie Mae-No Politics (FNMA)

[The Man With No Name]

When did you read the Statute No Name? You have been hawking the US Bankruptcy Code for months so perhaps you read it yesterday?

It will go down like this:

1. The NEC and UST will decide if they want to exit
2. They will confer but basically tell the FHFA what they want to do
3. They will ask the Civil Division of the DOJ to write a Memo justifying a compromise of debt under 902.2
4. They will let JB know how it will help him politically if he still is Pres.

No Attorney General is going to get in the way of the UST Secretary or the Chair of the NEC. Lawyers work for Clients and Clients make the business/policy decisions. Yes - this will be perfunctory.

How about you read it right now:

§ 902.1 Scope and application.

(a) The standards set forth in this part apply to the compromise of debts pursuant to 31 U.S.C. 3711. An agency may exercise such compromise authority for debts arising out of activities of, or referred or transferred for collection services to, that agency when the amount of the debt then due, exclusive of interest, penalties, and administrative costs, does not exceed $100,000 or any higher amount authorized by the Attorney General. Agency heads may designate officials within their respective agencies to exercise the authorities in this section.

(b) Unless otherwise provided by law, when the principal balance of a debt, exclusive of interest, penalties, and administrative costs, exceeds $100,000 or any higher amount authorized by the Attorney General, the authority to accept the compromise rests with the Department of Justice. The agency should evaluate the compromise offer, using the factors set forth in this part. If an offer to compromise any debt in excess of $100,000 is acceptable to the agency, the agency shall refer the debt to the Civil Division or other appropriate litigating division in the Department of Justice using a Claims Collection Litigation Report (CCLR). Agencies may obtain the CCLR from the Department of Justice's National Central Intake Facility. The referral shall include appropriate financial information and a recommendation for the acceptance of the compromise offer. Justice Department approval is not required if the agency rejects a compromise offer.

^^^^^^^^ the attorney general approves any compromise. And you foolishly think an Attorney General won't get in the way? LMFAO. The Attorney General signs off on it. I have first hand experience with this and you're talking fantasy land.