Thursday, December 18, 2014

Fannie Mae and Freddie Mac have since fully repaid the taxpayers. U.S. Senator Charles E. Schumer

Fannie Mae and Freddie Mac have since fully repaid the taxpayers. U.S. Senator Charles E. Schumer

http://www.schumer.senate.gov/newsroom/press-releases/schumer-applauds-fhfa-director-mel-watt-for-ordering-the-capitalization-of-the-national-housing-trust-fund

The NHTF was established in July 2008 as part of the Housing and Economic Recovery Act of 2008 (HERA). This law required that Fannie Mae and Freddie Mac pay 4.2 basis points of their annual volume of business to the two funds. The requirement that Fannie Mae and Freddie Mac contribute to the two funds was suspended when the companies were taken into conservatorship in September 2008 during the financial crisis. 
Fannie Mae and Freddie Mac have since fully repaid the taxpayers.

Those are his words, his press release.

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