Bill > HR2436

This bill, titled the Fannie Mae and Freddie Mac Taxpayer Payback Act of 2011, aims to ensure that the U.S. Treasury receives a consistent return on its investment in Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation). Specifically, it prohibits any reduction in the dividend rate paid to the Secretary of the Treasury on the "Variable Liquidation Preference Senior Preferred Stock" that the Treasury purchased from these two government-sponsored enterprises. This preferred stock represents a significant financial stake the government took in Fannie Mae and Freddie Mac, particularly after the 2008 financial crisis, and the bill seeks to maintain the agreed-upon dividend rate as of March 1, 2011, regardless of any existing agreements or amendments that might otherwise allow for a reduction.