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  • Comment Detail

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

  • Comment

    Dear Director Melvin Watt, Alfred Pollard, and others at the FHFA,

    I am among the next generation of US home owners, those born in the 1990s. It has come to my attention that the FHFA will begin allocating funds for the Housing Trust Fund, while Fannie Mae and Freddie Mac remain dangerously undercapitalized. With these actions, it has become very apparent that the FHFA is acting for special interest groups and the US Treasury rather than serving its conservator duties towards the GSEs.

    I urge you to stop all funding towards the Housing Trust Fund until the US Treasury has been paid back in full and the GSEs have been adequately capitalized. I would not mind funding going towards the Housing Trust Fund if Fannie Mae and Freddie Mac were fully capitalized, but with the GSEs undercapitalized the FHFA is putting tax payers at risk.

    The next generation of home owners have faced the repercussions of the financial crisis and have high student debt, lower-wage jobs, and an all around higher cost of living. As a result, we cannot afford to leave the GSEs undercapitalized. If Fannie Mae and Freddie Mac have new financial issues as a result of undercapitalization, I am afraid that home ownership will permanently become out of reach for millennials and we will be forced to become a generation of renters. A healthy and fully capitalized Fannie Mae and Freddie Mac will be crucial for American home owners for generations to come.

    Please reconsider funding the Housing Trust Fund until the GSE have been re-capitalized.