The purpose of this petition is to bring to attention a very pressing issue currently facing our nation concerning the future of the government-sponsored enterprise Federal National Mortgage Association (“Fannie Mae”).
Due to compounded financial issues following the economic downturn in 2008, Fannie Mae was placed under conservatorship of the Federal Housing Finance Agency, receiving significant financial backing ($117B) by the government to prevent its total failure. As per conservatorship agreements, Fannie Mae was to continue business operations with expectations to send future profits (if any) to the US Treasury. Guidelines were enacted to reduce the dominance of Fannie Mae’s presence in the loan marketplace and ultimately dissolve the company. These guidelines were constructed under