Trump faces tough path to Fannie Mae, Freddie Mac overhaul
By Sylvan Lane - 09/10/19 06:00 AM EDT President Trump’s quest to revamp the federal housing finance system faces long odds, with Congress tied up with a slew of must-pass bills ahead of 2020 and the two parties sharply divided over how to address the issue.
The administration’s first test comes Tuesday, when top officials will appear before the Senate to explain and defend their plan to end the federal government’s control over two pillars of the U.S. housing finance system.
Lawmakers have struggled for more than a decade to release the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, better known as Fannie Mae and Freddie Mac, from Washington’s control.
The two government-sponsored enterprises purchase mortgages from banks, package them into bonds and sell those bonds to help fund home loans for buyers in areas underserved by private firms.
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https://thehill.com/policy/finance/460615-trump-faces-tough-path-to-fannie-mae-freddie-mac-overhaul
