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  • Comment Detail

  • Date: 12/24/14
    First Name: Upendra
    Last Name: Kulkarni
    Organization: N/A
    City: N/A
    State: N/A
    Attachment: N/A
    Number: RIN-2590-AA73

  • Comment

    Dear Sir/Madam,
    One of the main duties and responsibility of the Conservator is to preserve and conserve the assets of Fannie and Freddie.
    Based on the FAQ's for the Conservatorship, the companies are expected to be in Conservatorship until they are in sound and solvent condition, as per the determination of the Conservator (FHFA Director).
    As of now, the conservator still has either not made that determination public (or maybe the conservator determined that they are still not in sound and solvent condition) and therefore both these companies are still in Conservatorship.
    Both the companies are privately owned with no known equity stake held by neither the US Treasury nor the FHFA. Both have repaid more amount than what they received as part of their bailout. However their liability towards the Senior Preferreds remains the same.
    The Junior Preferred and common shareholders still hold the economic interest in the companies. However their dividends are SUSPENDED.
    These dividends need to restored first before making such appropriations from the profits of these companies.
    I have been patiently waiting for returns on my investment in these companies that support the American dream of Homeownership.
    Please stop the diversion of funds from the profits of these companies until the owners (shareholders) of these companies are paid AT LEAST a reasonable dividend of 5% (note: they paid US Treasury 10% dividends).
    Thank you.
    Upendra Kulkarni