Comment Detail
Date: 10/17/17 First Name: Edward Last Name: Matus Email: eericmatus@gmail.com Organization Type: other Organization: Retired Comment
As a stock holder of shares of both FMCC and FNMA, I encourage FHFA to allow Director Mel Watt to exercise his statutory authority under the Housing and Economic Recovery Act of 2008 (HERA) and end the GSEs’ woefully inadequate capital reserves by ending the Net Worth Sweep. As instructed under HERA, FHFA has guided the Enterprises back to a safe and solvent condition, accounting for future market liquidity and stability.
The damage caused to me, by irresponsible rollbacks of banking regulations, by Congress, is on the order of ~ $500,000.00 dollars due to the short sale of my home, income due to layoffs, and unreasonable penalties and taxes to my 401K proceeds, while corporations and banks on Wall Street were receiving Billions in assistance. While homeowners like myself got the run around by mortgage companies who felt no pressure to perform HAMP or HARP refinancing in the 2008-2013 period. So end the Net Sweep and give us at least the chance to recoup a few dollars in stock value instead of continuing to screw the real victims of the 2008 Mortgage Crisis!