1. Short title This Act may be cited as the Let the GSEs Pay Us Back Act of 2017 . 2. Repayment of Treasury borrowing The Secretary of the Treasury and each enterprise (acting through the conservator for the enterprise appointed pursuant to section 1367 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4617 )) shall enter into an agreement that modifies the Preferred Stock Purchase Agreement for such enterprise to provide as follows: (1) Termination of dividends That after such modification, any Senior Preferred Stock purchased under such Agreement by the Department of the Treasury shall not accrue further dividends. (2) Treatment of enterprise draws on Treasury That any amounts received, before or after such modification, during a single year by the enterprise as a draw on the commitment made by the Department of the Treasury under such an Agreement, shall be treated as a loan made by the Treasury to the enterprise that— (A) was originated on the date of the last such draw during such year; (B) has an original principal obligation in an amount equal to the aggregate amount of such draws; (C) has a term to maturity of 30 years; (D) has an annual interest rate of 5 percent for the entire term of the loan; (E) has terms that provide for full amortization of the loan over such term to maturity