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  • Comment Detail

  • Date: 10/20/14
    First Name: Rosemary
    Last Name: Quartuccio
    Organization: N/A
    City: N/A
    State: N/A
    Attachment: N/A
    Number: RIN-2590-AA65

  • Comment

    No one ever mentions that Congress wanted Freddie and Fannie to have higher goals for Affordable Housing every year. The only way to accomplish this was to lower the borrower standards. The borrowers were not financially able to support the homes they purchased or to maintain them. This is what caused the meltdown in 2008.

    Then the government toook the 2 firms into conservatorship with 10% interest, twice as high as the "Too Big to Fail Banks, AIG or the auto industry.

    As Freddie and Fannie became profitable, the government in 2012 took the companies and proclaimed that all profits belonged to the government. Freddie & Fannie have paid back the debt and the interest. The government is now taking the profits and not reporting where these billions of dollars are being spent. \

    The US government is not in the real estate lending business. They should not be in the business. The US Constitution does not say they can be in the business. The Bill of Rights states the government shall not seize personal property. The government should return the shares to the shareholders along with dividends after all debt and interest has been paid.

    Put the blame where the blame belongs - Congress. Follow the constitution. Give the shareholders back their property.