Fannie Mae, Freddie Mac: Watt Bombarded With 10,000 Emails

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In less than 24 hours, over 10,719 people — and rising fast — have emailed the head of the Federal Housing Finance Agency /FHFA, which oversees Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC), which underwrite mortgages for houses and apartment buildings.

Mel Watts receives messages regarding Fannie Mae, Freddie Mac

The recipient of all of these communications, former Congressman Mel Watt, is meeting with Congress members next week to discuss his agenda.  He has now received this message thousands of times:

“I urge you to ask Congress to allow Fannie Mae and Freddie Mac to reduce loan balances for underwater homeowners.

“And I encourage you, without delay, to:

“Stop reducing and begin increasing the number of multifamily apartment buildings financed by Fannie Mae and Freddie Mac.

“Develop rules, mandated over five years ago, to ensure that Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) fairly serve all credit-worthy borrowers.

“Make sure Fannie Mae and Freddie Mac provide funding, as required by law, for the National Housing Trust Fund and the Capital Management Fund.”

The webpage from which these emails are sent is The goal is to receive 15,000 emails, so the group is well on its way towards that goal.

The page notes: “Bankers and their flunkies in Congress are still trying to blame affordable housing for Wall Street’s self-induced collapse of six years ago. We need to let Mel Watt know how many of us support expanding affordable housing.”

Commented RootsAction campaign coordinator David Swanson: “Protecting people in this country from unfair lending and lack of housing is easily achievable, if only our government will listen.” is an online initiative dedicated to galvanizing Americans who are committed to economic fairness, equal rights, civil liberties, environmental protection — and defunding endless wars.  RootsAction is endorsed by Jim Hightower, Barbara Ehrenreich, Cornel West, Daniel Ellsberg, Glenn Greenwald, Naomi Klein, Bill Fletcher Jr., Laura Flanders, former U.S. Senator James Abourezk, Coleen Rowley, Frances Fox Piven, and many others.


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