Fannie Mae-No Politics (FNMA)

[patoja76]

Yes, they want milk the cow for a while and have the legal tools to do it. The Sweep Amendment was an agreement between the Govt and the Govt. and the term safe and solvent is supposedly up to the director of the FHFA. I have not always time to respond, that's why the delay. glty stockprofitter

The Federal Housing Finance Agency (FHFA) is an "independent" (means US Treasury imo and others too) federal agency created as the successor regulatory agency resulting from the statutory merger of the Federal Housing Finance Board (FHFB), the Office of Federal Housing Enterprise Oversight (OFHEO), and the U.S. Department of Housing and Urban Development, (btw in November 2007 – HUD initiates program providing seller concessions to buyers of HUD homes, allowing them to use a down payment of $100, also In June 1993, HUD Secretary Henry Cisneros admitted that "HUD has in many cases exacerbated the declining quality of life in America." In 1996, Vice President Al Gore, referring to public housing projects, declared that, "These crime-infested monuments to a failed policy are killing the neighborhoods around them." According to libertarian critic James Bovard, "The more aggressive HUD becomes, the fewer free speech rights Americans have. Many words and phrases are now effectively forbidden in real estate ads. ... Apparently, there are two separate versions of the Bill of Rights -- one for private citizens and the other for federal bureaucrats and politicians -- since the word 'balance' does not appear in copies that normal citizens have access to." This was Bovard's response to HUD Assistant Secretary for Fair Housing Roberta Achtenberg who declared that "...HUD walks a tightrope between free speech and fair housing. We are ever mindful of the need to maintain the proper balance between these rights."In 2006, The Village Voice called HUD "New York City's worst landlord" and "the #1 worst in the United States." The criticism is based upon decrepit conditions of buildings and questionable eviction practices, but well this out of topic, right? ) government-sponsored enterprise mission team,[2] absorbing the powers and regulatory authority of both entities, with expanded legal and regulatory authority, including the ability to place government sponsored enterprises (GSEs) into receivership or conservatorship.[3][4][5]
The enabling law establishing the FHFA is the Federal Housing Finance Regulatory Reform Act of 2008, which is Division A of the larger Housing and Economic Recovery Act of 2008.
On September 7, 2008, FHFA director Lockhart announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA.[5][10] The action is "one of the most sweeping government interventions in private financial markets in decades".[11] U.S. Treasury Secretary Henry M. Paulson, appearing at the same press conference, stated that placing the two GSEs into conservatorship was a decision he fully supported, and said that he advised "that conservatorship was the only form in which I would commit taxpayer money to the GSEs." He further said that "I attribute the need for today's action primarily to the inherent conflict and flawed business model embedded in the GSE structure, and to the ongoing housing correction."
Plan of action for the conservatorship:

9-here will be financing and investing relationship with the U.S. Treasury via three different financing facilities, to provide critically needed support to Freddie Mac and Fannie Mae and the liquidity of the mortgage market. One the three facilities is a secured liquidity facility which will be not only for Fannie Mae and Freddie Mac, and also for the 12 Federal Home Loan Banks that FHFA also regulates.

http://en.wikipedia.org/wiki/Federal_Housing_Finance_Agency