Sunday, March 15, 2015

Letter to Congressman Tom Reed to Support H.R. 1036

The Honorable Tom Reed
2437 Rayburn House Office Building
United States House of Representatives
Washington, D.C. 20515

Dear Mr. Reed:

As one of your constituents, I am writing you to request your support for H.R. 1036, Let The GSE’s Pay Us Back Act of 2015.

The housing market is nearly one quarter of the U.S. economy.  I believe that the economic well-being of the economy depends on the availability and affordability of the 30-year, fixed-rate, prepayable mortgage and that its existence depends on the existence of Fannie Mae and Freddie Mac.  The U.S. Treasury Department is currently confiscating all profits, denying Fannie Mae and Freddie Mac the ability to recapitalize, reducing their net worth to zero by the year 2018, and forcing taxpayers to be liable for any losses the GSE’s will incur.

Please support H.R. 1036 as it will ultimately allow for the preservation the 30-year, fixed-rate, prepayable mortgage.

Thank you for your time that you have taken to read this letter.

Stanley J. Holland

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