Fannie Mae-No Politics (FNMA)

[Chief Slapaho]

Short Takes: 33 Senators Don’t Want the GSEs Returned to Their ‘Previous Form’
By Brandon Ivey, Charles Wisniowski, Paul Muolo

Late last week, in a new letter, 33 Democratic Senators asked newly minted Federal Housing Finance Agency director Mel Watt to end the suspension of contributions to the National Housing Trust Fund and Capital Magnet Fund by Fannie Mae and Freddie Mac. The 33, including several senior members of the Senate Banking Committee, also noted that they are “committed” to reforming the GSEs but believe the two “should not be returned to their previous form.” Senate Banking Committee Chairman Tim Johnson, D-ND, did not sign the letter. The NHTF and CMF were created under the Housing and Economic Recovery Act of 2008, but no money ever went into these entities from the GSEs because they were placed into conservatorship in September of that year…