FHFA General Council Alfred Pollard Seeking Comments

Mr. Pollard is asking for your thoughts on funding the Housing Trust Fund and the Capital Magnet Fund.

Comments can be sent through this site: https://www.fhfa.gov/SupervisionRegulation/Rules/Pages/Housing-Trust-Fund.aspx

Statement

FHFA Statement on the Housing Trust Fund and Capital Magnet Fund

FOR IMMEDIATE RELEASE

12/11/2014

​​​The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac to begin setting aside and allocating funds to the Housing Trust Fund and the Capital Magnet Fund pursuant to the Housing and Economic Recovery Act of 2008 (HERA).   HERA authorized FHFA to temporarily suspend these allocations, and FHFA informed Fannie Mae and Freddie Mac of a temporary suspension on November 13, 2008. In letters sent today (links below), FHFA notified Fannie Mae and Freddie Mac of the agency’s decision to reverse the temporary suspension.

Separately, FHFA sent to the Federal Register an Interim Final Rule to address the statutory requirement that the allocations may not result in transferring their expense to originators or other Enterprise counterparties. The Interim Final rule is effective upon publication and has a 30-day comment period.

Letter to Fannie Mae:  http://www.fhfa.gov/Media/PublicAffairs/Documents/FNM_HTFCMF12112014.pdf

Letter to Freddie Mac:  http://www.fhfa.gov/Media/PublicAffairs/Documents/FRE_HTFCMF12112014.pdf

http://www.gpo.gov/fdsys/pkg/FR-2014-12-16/pdf/2014-29345.pdf

Housing Trust Fund

AGENCY: Federal Housing Finance Agency.

ACTION: Interim final rule; request for comments.

SUMMARY: The Federal Housing Finance Agency (FHFA) is issuing an interim final rule setting forth requirements related to allocations by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (together, the Enterprises) to the Housing Trust and Capital Magnet Funds created by the Housing and Economic Recovery Act of 2008. The rule implements a statutory prohibition against the Enterprises passing the cost of such allocations through to the originators of loans they purchase or securitize.

DATES: This interim final rule is effective on December 16, 2014. FHFA will accept written comments on this interim final rule on or before January 15, 2015.

FOR FURTHER INFORMATION CONTACT:

Alfred M. Pollard, General Counsel, (202) 649–3050 (not a toll-free number), Federal Housing Finance Agency,

Eighth Floor, 400 Seventh Street SW.,

Washington, DC 20024.

Comments can be sent through this site: https://www.fhfa.gov/SupervisionRegulation/Rules/Pages/Housing-Trust-Fund.aspx

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3 thoughts on “FHFA General Council Alfred Pollard Seeking Comments

  1. My name is Micah Thieman, and I am an investor in Fannie Mae and Freddie Mac. While I very much support funding the housing trust fund, one thing must be made clear: the conservatorships of F&F must end. The companies have more than proven they are in sound and solvent condition, especially if they are being asked to support what is basically a charity fund. I have invested money for the future education of my daughters and for my future retirement. I am asking your assistance to help end what is an unsustainable situation and I will very much support this cause.

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  2. I am a shareholder in Fannie and Freddie and are please to see part of HERA is being honored. It is sad this program as well the military assistance programs were cancelled by the old directors. My hope is that if the companies are able to make payments to these trust funds than the CONSERVATORSHIP would be ended as well. See protecting tax payers is not sweeping all the profits from our company based on excuses of the past. Those matters are over and closed and all monies have been paid back. It is more of an embarrassment that republican senators say this program should not be put back in place since FNF have not paid one penny back. I used to be more conservative but see now that republican’s only wanted to lie and destroy what FDR built so many years ago to protect tax payers from banks. Mr. Watt you have the chance to right this wrong, to release these companies to once again provide economic expansion and protect the laws of private property. See these law suits are TRUELY an embarrassment? Why are the taxpayers of the US SUEING you and your department for our company back? Have you not succeeded in stabilizing housing, operations and default rates? There is no value to a back stop anymore so release our companies and build a legacy verses continue down the path YOYR republican enemies set forth for you. The middle class should invest in the stocks and gain value to support the operations. That is what America is all about. The original deal was the risk and if the companies never made it well those who invested would have lost. But see Sir I invested in the trust of the US gov and now I have no trust. I hope your oath was to uphold the law of private property and give back what is not government property.

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  3. Simply shocked at the audacity of our Government and cowardly behavior of our elected officials to stand by and watch. My shareholder rights suspended. Just when FnF turned profitable. Truly sickening.
    Please help put an end to the illegal and immoral taking of shareholder property and potential dividends: help end the conservatorship and the third amendment sweep.

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