Sec. 102. Repayment of Government assistance; maximizing return to taxpayers
206 words·~1 min read·
/bill/114/s/495/is/section-102·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
After fully satisfying the outstanding obligations of the enterprises in a manner consistent with their receivership status, all remaining proceeds from the operations of the enterprises in receivership shall be paid by the FHFA to the General Fund of the United States Treasury in repayment of Government assistance provided in connection with ensuring the solvency and resolution of the enterprises prior to the date of enactment of this Act. The combined assets of the enterprises, including on-balance sheet portfolios, shall be managed by the FHFA as receiver to obtain resolutions that maximize the return for the taxpayer, to the extent that— such resolutions are consistent with the goal of supporting a sound, stable, and liquid housing market; and such resolutions are consistent with applicable law.
The proceeds from privatization of the MFA upon termination of its authority in accordance with section 304 shall be deposited into the General Fund of the United States Treasury. Upon such termination of the authority of the MFA, the Catastrophic Fund shall be transferred to the General Fund of the United States Treasury, and the United States Treasury shall assume responsibility for and honor any remaining obligations of the MFA, of whatever nature and until such time as they are extinguished.