Comment Detail
Date: 10/17/17 First Name: Travis Last Name: Rothell Email: trothell@gmail.com Organization Type: fannie mae Organization: Private Investor Comment
I would 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. A continued conservatorship and ongoing quarterly dividend payments will leave the Enterprises at danger’s doorstep in two short months, come January 1, 2018, when each entity is operating on zero capital.
Additionally my rights have been violated as a private shareholder. Fannie Mae and Freddie Mac have paid back more than the original loan amount however the US treasury still continues to keep money that is rightfully owed to shareholders. I am surprised that our government would continue to openly operate in this unethical manner.
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