What does this really mean?
Dear Concerned Taxpayer:
Thank you for writing to express your concerns about the financial status of Fannie Mae and Freddie Mac. I appreciate the time you took to write, and I welcome the opportunity to respond.
I understand you are supportive of removing Fannie Mae and Freddie Mac from conservatorship. I believe that Congress and the Administration must work together to support the continued housing market recovery and determine the appropriate role of the Federal government in the housing market. Currently, discussions about removing Fannie Mae and Freddie Mac from conservatorship are connected to larger questions about the degree to which the Federal government should be involved in the housing market.
Together Fannie Mae and Freddie Mac currently guarantee approximately 58 percent of all outstanding single family mortgage debt. Given this, I believe that any changes to their structure must be done carefully and should be phased in to avoid derailing the housing market recovery. Please know that I appreciate your suggestion to remove Fannie Mae and Freddie Mac from conservatorship expeditiously, and I will keep your thoughts in mind should relevant legislation come before the Senate.
Again, thank you for writing. If you have additional questions or comments, please feel free to contact my Washington, D.C. office at (202) 224-3841. Best regards.
United States Senator
Further information about my position on issues of concern to California and the nation are available at my website, feinstein.senate.gov . And please visit my YouTube , Facebook and Twitter for more ways to communicate with me.