Federal Housing Finance Agency Director Mark Calabria today announced the Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac will be permitted to retain a combined $45 billion worth of earnings, effectively halting a policy in place since 2012 of diverting the GSEs’ earnings to the Federal Treasury.
Q2 hedge fund letters, conference, scoops etc
Investors Unite Executive Director Tim Pagliara issued the following statement:
“FHFA’s action to allow the GSEs to retain the capital they earn is a victory for taxpayers who have long been at risk for possible GSE losses due to the illegal net worth sweep. Director Calabria had it right when he said ‘the status quo is not an option.’ This is a milestone in ending the conservatorship and honoring the government’s commitment to GSE shareholders, taxpayers and perspective homeowners.”
About Investors Unite: Formed by Tennessee investor and CapWealth Chairman and CEO, Tim Pagliara, Investors Unite (investorsunite.org) is a coalition of over 2,000 individual investors from all walks of life, committed to the preservation of shareholder rights for all invested in Fannie Mae and Freddie Mac. The coalition works to educate shareholders and lawmakers on the importance of adopting GSE reform that fully respects the legal rights of Fannie Mae and Freddie Mac shareholders and offers full restitution on investments.
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