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Volume 18 - Number 10

May 11, 2018

Investors Unite Disappointed at Lack of Reform 10 Years Later

Fannie Mae and Freddie Mac are in their 10th year of conservatorship and GSE shareholders rights group, Investors Unite, complained about reform still being in limbo. ďNo one in Washington has answers to fundamental questions about the future of affordable housing, the 30-year mortgage, and basic rights of shareholders,Ē said IU. Yet, the group noted that the GSEs continue to funnel their earnings to the Treasury Department, per the terms of the net worth sweep. In June, Fannie expects to pay Treasury a $938 million dividend payment. However, IU said the GSEs could be at risk for another taxpayer-funded bailout as long as the Trump administration delays needed reform ďand allows the Obama Treasury Departmentís net-worth sweep to remain in place.Ē

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