Return home financing insurance to private markets
Fannie Mae had a net loss of $6.5 billion in the fourth quarter of 2017 due to a reduction in the corporate tax rate.
Fannie, which has been in government conservatorship for six years, has limited capital. Its overseer, the Federal Housing Authority, is seeking $3.7 billion from the Treasury Department for Fannie's operations.
Congress should unwind federal ownership of both Fannie and Freddie Mac. Why put our tax dollars at risk?
Now is the perfect time to restore housing market financing insurance to the private sector.
Contact your senators, congressman and president expressing your displeasure at the thought of another $3.7 billion bailout. Ask them to restore mortgage insurability to the private sector.
Mike Tennis
Sleepy Hollow
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