Treasury Called on to Rebuild GSEs’ Net Worth, Retain Profits
December 30, 2014
With Fannie Mae and Freddie Mac on solid financial footing in terms of earnings, some factions of the mortgage industry believe the two should be allowed to rebuild capital by retaining some of their profits. But getting there would require a hard push from the White House, and the approval of the Treasury Department, which controls the senior preferred stock of the two. In a recent letter to Treasury Secretary Jacob Lew and Federal Housing Finance Agency Director Melvin Watt ...
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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