Trump administration unveils Fannie, Freddie overhaul, urges Congress to act


bigstock Freddie Mac headquarters in Mc 18775781(Worthy News) – The U.S. Treasury on Thursday said the government should draw up a plan to begin recapitalizing mortgage giants Fannie Mae and Freddie Mac, while calling on Congress to pen a comprehensive housing reform that would allow them to be safely freed from government control.

The Treasury’s plan, released in a 53-page report, marks the first major effort to jump-start housing finance reform in Washington after a failed 2012 attempt by the Obama administration.

The report calls for recuperating Fannie and Freddie and removing them from their government lifeline, but it strikes a cautious tone by failing to commit to concrete timelines or a specific recapitalization plan. [ Source: Reuters (Read More…) ]

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