Thursday, February 12, 2015

A letter to introduce a legal stoppage to the HTF and declare the actions unlawful or the conservatorship unlawful is FNF are solvent.

From Yahoo MB
NOT SURE IF ANYBODY WATCHING LIVE ON AMENDMENTS TO 2016 budget BUT VERY FRANK TALK ON FNF .
1. DEMS wanted to increase the housing trust fund.
2. REPUBS denied and are drafting a letter to show legal cause of action by Watt.
3. REPUBS said only three ways to fund HTF and that watt suggesting profit makes no sense.
4. If Watt does not come back with clear legal authority the REPUBS are going to submit to the DOJ
A letter to introduce a legal stoppage to the HTF and declare the actions unlawful or the conservatorship unlawful is FNF are solvent.
This is exactly what I said the REPUBS will fight the funding of the HTF to get the third amendment fixed.
Things are heating up on FNF PERIOD.

FHFA cannot start housing trust fund if Fannie and Freddie are not capitalized, and under current conservatorship they are not! Watt has a problem, and so do democrats.

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the actual law:

12 U.S. Code § 4567 - Affordable housing allocations

(a) Set aside and allocation of amounts by enterprises
Subject to subsection (b), in each fiscal year—
(b) Suspension of contributions
The Director shall temporarily suspend allocations under subsection (a) by an enterprise upon a finding by the Director that such allocations—
(1) are contributing, or would contribute, to the financial instability of the enterprise;
(2) are causing, or would cause, the enterprise to be classified as undercapitalized; or
(3) are preventing, or would prevent, the enterprise from successfully completing a capital restoration plan under section 4622 of this title.

whats is 4622?
(a) Contents
Each capital restoration plan submitted under this subchapter shall set forth a feasible plan for restoring the core capital of the regulated entity subject to the plan to an amount not less than the minimum capital level for the regulated entity and for restoring the total capital of the regulated entity to an amount not less than the risk-based capital level for the regulated entity. Each capital restoration plan shall—
(1) specify the level of capital the regulated entity will achieve and maintain;
(2) describe the actions that the regulated entity will take to become classified as adequately capitalized;
(3) establish a schedule for completing the actions set forth in the plan;
(4) specify the types and levels of activities (including existing and new programs) in which the regulated entity will engage during the term of the plan; and
(5) describe the actions that the regulated entity will take to comply with any mandatory and discretionary requirements imposed under this subchapter.

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