Comment Detail
Date: 10/18/17 First Name: Er Last Name: Ritland Email: eritland@boylecapital.com Organization Type: other Organization: Boyle Capital Comment
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. 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.
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