Defunding any more appropriations to GSEs for any purpose until the companies are unwound
AMENDMENT TO H.R. [XXXX], AS REPORTED
OFFERED BY [NAME OF MEMBER] OF [STATE]
At the end of the bill insert the following:
Sec. [XXX]. None of the funds made available under this or any other Act, or any prior Appropriations Act may be used after 180 days of its enactment to administer the enterprises Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation until the Director of the Federal Housing Finance Agency and the Secretary of the Treasury jointly take such action, and prescribe such regulations and procedures, as may be necessary to wind down the operations of each enterprise as an entity chartered by the United States Government over the duration of the 10-year period beginning 365 days after this provision’s enactment in an orderly manner consistent with the ongoing obligations of the enterprise, including the establishment and execution of plans to provide for an equitable division and distribution of assets and liabilities of the enterprise, including any liability of the enterprise to the United States Government or a Federal reserve bank that may continue after the end of the period described above, and may provide for establishment of a holding corporation organized under the laws of any State of the United States or the District of Columbia for the purposes of the reorganization and restructuring of the enterprise; and one or more trusts to which to transfer remaining debt obligations of the enterprise, for the benefit of holders of such remaining obligations; or remaining mortgages held for the purpose of backing mortgage-backed securities, for the benefit of holders of such remaining securities.