Fannie Mae-No Politics (FNMA)

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Termination of dividends. Fannie Mae can Re-Capitalize! This is way better than a Full profit Sweep

LET GSEs PAY US BACK ACT OF 2013 H.R 2435:

Become a Cosponsor Here - https://t.co/Chu3Mz20Et


H.R.2435 Let the GSEs Pay US back

(1) Termination of dividends.--That after such
modification, any Senior Preferred Stock purchased under such
Agreement by the Department of the Treasury shall not accrue
further dividends.
(2) Treatment of enterprise draws on treasury.--That any
amounts received, before or after such modification, during a
single year by the enterprise as a draw on the commitment made
by the Department of the Treasury under such an Agreement,
shall be treated as a loan made by the Treasury to the
enterprise that--
(A) was originated on the date of the last such
draw during such year;
(B) has an original principal obligation in an
amount equal to the aggregate amount of such draws;
(C) has a term to maturity of 30 years;
(D) has an annual interest rate of 5 percent for
the entire term of the loan;
(E) has terms that provide for full amortization of
the loan over such term to maturity; and
(F) shall be repaid by the enterprise in accordance
with the amortization schedule established for the loan
pursuant to subparagraph (E) of this paragraph, subject
to paragraph (3).
(3) Treatment of dividends paid.--That any dividends paid
by the enterprise to the Department of the Treasury under the
Senior Preferred Stock Agreement before such modification of
such Agreement shall be treated as payments of principal and
interest due under the loan referred to in paragraph (2), and
shall be credited against payments due under the terms of such
loan (in accordance with the amortization schedule established
for such loan pursuant to paragraph (2)(E)), first to such loan
have the earliest origination date that has not yet been fully
repaid until such loan is repaid, and then to the next such
loan having the next earliest origination date until such loan
is repaid.


CONGRESSIONAL SPONSOR:
MICHAEL CAPUANO
Introduced: 2013.06.19
State Of: Massachusetts
District: 7