The recent announcement that changes from the tax cut bill passed in December would lead Fannie Mae and Freddie Mac to require a draw from the Treasury Department did not sit well with House Financial Services Committee Chairman Jeb Hensarling (R-Texas), a longtime critic of the government-sponsored entities (GSEs).
However, the news that Federal Housing Finance Agency Director Mel Watt instructed the GSEs to continue making payments to the Housing Trust Fund and Capital Magnet Fund was enough to push Hensarling to write to Watt, demanding an explanation, and calling the decision “deeply troubling.”
Read on for details of Hensarling’s letter to Watt.
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