Skip to main content

  • Comment Detail

  • Date: 12/23/14
    First Name: Sam
    Last Name: Singer
    Organization: N/A
    City: N/A
    State: N/A
    Attachment: N/A
    Number: RIN-2590-AA73

  • Comment

    Contributions to the Housing Trust and Capital Magnet Funds is essential. In order to get this done in continuous basis, GSEs needs to be making lots money which is only possible if GSEs are free from conservatorship. The sweeping of fund to the treasury is illegal according to power given to conservator under HERA.

    H. R. 3221—84
    ‘‘(D) POWERS AS CONSERVATOR.—The Agency may, as conservator, take such action as may be—
    ‘‘(i) necessary to put the regulated entity in a sound and solvent condition; and
    ‘‘(ii) appropriate to carry on the business of the regulated entity and preserve and conserve the assets and property of the regulated entity.
    ‘‘(E) ADDITIONAL POWERS AS RECEIVER.—In any case in which the Agency is acting as receiver, the Agency shall place the regulated entity in liquidation and proceed to realize upon the assets of the regulated entity in such manner as the Agency deems appropriate, including through the sale of assets, the transfer of assets to a limited-life regulated entity established under subsection
    (i), or the exercise of any other rights or privileges granted to the Agency under this paragraph.