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  • Comment Detail

  • Date: 10/17/17
    First Name: Clarence
    Last Name: Ryals
    Email: Cdryals@northstate.net
    Organization Type: fannie mae
    Organization: Stockholder

  • Comment

    I have been a FNMA Stockholder for 9 years. The net worth sweep in 2012 was not the original agreement. Allow Mel Watt to act as a Conservator and recap and release FNMA & FRMC. We are average people, not Hedge Funds as some suggest. Some are investors trying to put their children through college or invested for retirement. Fannie and Freddie have served the US for years. There is no need to come up with the same service under a new name.
    The government and taxpayers have been paid back in full for $187.5 billion in emergency funds provided to the GSEs during the financial crisis of 2008-09. As the GSEs have continued to turn a profit, an additional sum of over $80 billion has been paid to the U.S. Treasury, as required by the Third Amendment of the conservatorship’s terms. There was never a legitimate policy rationale for this action commonly called the Net Worth Sweep. Its continuation is now creating new hazards for all stakeholders.