Replies to post #486355 on Fannie Mae-No Politics (FNMA)

[FreeFNMA]

good point however i dont think he can do either without treasury support at a minimum. REceivership is a huge change to our entire housing stucture and economic system millions of americans live off of....Mark calabria can just willy nilly change all of this on his own HAHA doubt it

[kthomp19]

if true, he can then cancel conserve without congress.

Yes, this is correct.

However, according to the terms of the SPSPAs, the FHFA director cannot end conservatorship without approval from the Treasury Secretary, unless it's because the FHFA director put the companies into receivership.

You can check section 5.3 of that link above for yourself.

5.3. Conservatorship . Seller shall not (and Conservator, by its signature below, agrees that it shall not), without the prior writte n consent of Purchaser, terminat e, seek termination of or per- mit to be terminated the conservatorship of Selle r pursuant to Section 1367 of the FHE Act, other than in connection with a receivership pur suant to Section 1367 of the FHE Act.