housing trust fund: Republicans Seek to Block Housing Funds Payments
- 01/28/15 09:44 AM
As I wrote in my post dated December 14, 2014, entitled "Fannie / Freddie To Make Housing Fund Payments" Mel Watt, Director of the Federal Housing Finance Agency ordered FNMA and FHLMC to make their payments to the Housing Trust Fund and the Capital Magnet Fund as required under the Housing and Economic Recovery Act of 2008. The GSEs never made a payment to the housing funds since that legislation was passed. Now House Republicans, led by representative Ed Royce (R-California) are about to introduce a bill entitled "Pay Back the Taxpayers Act of 2015". The measure, which has not yet been introduced … (4 comments)
housing trust fund: Fannie / Freddie To Make Housing Fund Payments
- 12/13/14 11:46 PM
Mix results seem to abound about the announced payments to be made by Fannie Mae and Freddie Mac to federally sponsored national housing trust funds for very low and low income housing. FHFA Director Melvin Watt has lifted the suspension of payments by the GSEs that were requied under the Housing and Econimic Recovery Act of 2008 ("HERA"). In fact, the GSEs never made any payments to the housing funds as the GSEs went into conservatorship and HERA provides that the FHFA can suspend the required payments if the payments would contribute to the financial instability of the GSEs or would … (8 comments)
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Randy Kirsch
(NMLS# 1012303) Your Dedicated Mortgage Consultant
As I wrote in my post dated December 14, 2014, entitled "Fannie / Freddie To Make Housing Fund Payments" Mel Watt, Director of the Federal Housing Finance Agency ordered FNMA and FHLMC to make their payments to the Housing Trust Fund and the Capital Magnet Fund as required under the Housing and Economic Recovery Act of 2008. The GSEs never made a payment to the housing funds since that legislation was passed. Now House Republicans, led by representative Ed Royce (R-California) are about to introduce a bill entitled "Pay Back the Taxpayers Act of 2015".
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