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Federal National Mortgage Association Message Board

  • tla_usa tla_usa May 13, 2014 2:39 PM Flag

    via New York Times -" Overseer Shifts Course on Fannie Mae and Freddie Mac"

    Interesting excerpts
    The announcement is a significant shift in strategy for the mortgage financiers, driven by the new director of the Federal Housing Finance Agency, Melvin L. Watt.

    Mr. Watt announced a number of changes for Fannie and Freddie, changes that would perpetuate the two government-sponsored enterprises’ presence in mortgage finance, rather than shrinking it.

    Mr. Watt’s remarks come as Fannie and Freddie have returned to profitability, and as legislators in Washington have started to consider how to remove them from government conservatorship.

    The federal government rescued Fannie and Freddie from collapse in 2008, with a bailout that cost about $190 billion. Since then, they have stabilized their loan portfolios and paid about $200 billion in dividends to the federal government.

    On Thursday, the Senate Banking Committee is due to vote on a bill that would wind the agencies down. But Congress is not expected to pass any reform measures in the foreseeable future.

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    • For more detail google the following document:

      **Prepared Remarks of Melvin L. Watt, Director, FHFA at the Brookings Institution Forum on the Future of Fannie Mae and Freddie Mac ------ Managing the Present: The 2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac -----5/13/2014**


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