Pen Bancorp Offers to Buy Fannie Mae and Freddie Mac

By Alex S. Gabor

The charitable arms of Fannie Mae

Pen Bancorp is offering to take out the United States Government's positions in both Fannie and Freddie by issuing preferred zero coupon zero interest non convertible 6% annually yielding non voting stock and refinancing America’s owner occupied home mortgage debt at zero interest.

Gabor S. Acs, a Director of Pen Bancorp , sent a video message to President Elect Donald Trump urging him to endorse his proposal to buy both institutions from the US Government which has controlled more than 80% of both institutions since 2008.

The companies were reviewed by James Lockhart former Chairman of Federal Housing Finance Agency

Former McLean-based Freddie Mac Foundation

The current conservator Director Melvin L. Watt is being contacted electronically to get an endorsement from Donald Trump for a current plan to merge the four organizations into two and streamline the American Secondary Mortgage Market .

The proposal to consolidate and streamline the mortgage industry is being tied to tax law changes and a one time offshore tax exemption for more than $32 trillion sitting in offshore bank accounts held by Americans and their publicly traded corporations.

“Confidence in the four organization’s operations is once again waning among home buyers, homeowners, mortgage brokers, investors, builders, Realtors and secondary mortgage market trading partners”, according to Gabor Acs .

Acs heads up the International Bank Activities Reform Commission headquartered in Budapest, Hungary .

D.C.-based Fannie Mae , which issues grants through its office of community and charitable giving according to former spokeswoman Chrissie McHenry , could not be reached for public comment.

The federal government took control of the two companies in September of 2008 to prevent their collapse, largely freezing their charitable activities, and committed $200 billion to rescue and restructure them.

Since then the United States Treasury has been collecting income from the seizure, and instead of paying down the national debt, which continues to balloon beyond $20 Trillion and the DOW Jones breaks past 20,000 , the income has been being used by the Federal Government.

There is an unusual coincidence of numbers, facts, figures and calculations that show the co-relations between government debt and the Dow Jones Industrial Average.

This proposal is spurring a lobbying effort by hundreds of local nonprofits, investors with large stakes in both public companies and prompting local members of Congress to write President Elect Trump and ask that Pen Bancorp be allowed to continue philanthropic activities via the Infinite Freedom Foundations of Washington . A spokeswoman for Trumps Transition Team could not immediately be reached.

The Nonprofit Roundtable of Greater Washington was sent an email to to forward to stockholders of both institutions announcing the possibility of new funding from Fannie and Freddie and alerting them to two upcoming meetings on strategies for tightening their belts: mergers and combining back office duties.

An invitation to meet with Peter Thiel and President Elect Donald Trump is pending from a top IBARC Official to continue public settlement talks .

Original Document @Google Docs. First published at LinkedIn.com. Copyright Infinite Freedom Foundations of Washington.