Scheme destroying 30-year mortgages
WASHINGTON, D.C. – Tennessee Republican Sen. Bob Corker, derisively tagged the “Senator from Wells Fargo” by those fighting to recapitalize Fannie Mae and Freddie Mac, is actively pushing President Trump to continue the Obama administration policy of sweeping Fannie and Freddie earnings to the Treasury Dept.
In a letter dated March 29, 2017, Corker rounded up four other U.S. Senators, including Virginia Democrat Sen. Mark Warner to write a letter to Melvin Watt, the director of the Federal Housing Finance Agency.
The letter asked President Trump to continue taking what is known as the “Net Worth Sweep” that sweeps all Freddie and Fannie earnings into the U.S. Treasury, without paying stockholders any dividends.
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DRAIN.THE.SWAMP
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