Replies to post #73259 on Fannie Mae-No Politics (FNMA)

[obiterdictum]

DeMarco is the Acting Director of the FHFA and has all authority by law to determine the release or not of the GSEs from the conservatorship or to place them in receivership. The US Treasury has a temporary, limited role restricted to the PSPA and monetary and financial matters existing between the GSEs and the US Treasury such as the purchase and sale of securities and obligations, financial reporting and so on. There is an oversight board that includes persons from other agenices that advise the Director but in the end DeMarco makes the call.

‘(2) AUTHORITY OVER FANNIE MAE, FREDDIE MAC, THE FEDERAL HOME LOAN BANKS, AND THE OFFICE OF FINANCE- The Director shall have general regulatory authority over each regulated entity and the Office of Finance, and shall exercise such general regulatory authority, including such duties and authorities set forth under section 1313, to ensure that the purposes of this Act, the authorizing statutes, and any other applicable law are carried out.

A slow read of HERA 2008 will provide all the details.

See: http://www.govtrack.us/congress/bills/110/hr3221/text