The recent report from the House Financial Services Committee Chairman, Jeb Hensarling, to MHProNews late last week pointed out that Bloomberg – and the Daily Business News – had identified ways that appear to reflect that Fannie Mae has violated the FHFA mandate that the GSEs are barred from lobbying.
An attentive MHProNews reader provided a tip today that indicated the following “explanation” already published by Fannie Mae on this concern over lobbying.
On page 22 of the Fannie Mae manufactured housing plan, is the following.
“Fannie Mae will undertake the following measurable Actions in the years indicated.
Year Actions 2018 · Actively participate in the manufactured housing industry as a member of the Manufactured Housing Institute (MHI) (excluding any lobbying activity) in order to maintain an industry presence and remain current on activities and developments facing the market.”
One might ask, did Fannie Mae join other industry associations? If not, why not?
If their purpose was to stay current on industry activities, can’t that be done by meetings and reading? Does it require membership in MHI?
DSNews reported that Fannie Mae said in response to Hensarling’s concerns that, “Fannie Mae does not lobby and has not advocated for any specific policy.”
As a legal source we checked with on this issue said, ‘Money is fungible. It is disingenuous to say that just because they claim not to be supporting lobbying, that whatever their [Fannie Mae] dues are that the money hasn’t in some sense advanced MHI lobbying.’
The statement by Congressman Jeb Hanserling, Chairman of the House Financial Services Committee, on this topic and the MHProNews related analysis are linked below.
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