Fannie-Freddie Won't Be Freed Without Congress, Regulator Says
- FHFA deputy says Watt fervently believes legislation is needed
- Official also affirms view GSEs may suspend Treasury payments
QuickTake: The Future of Fannie Mae and Freddie Mac
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The Federal Housing Finance Agency won’t release Fannie Mae and Freddie Mac from U.S. control without congressional approval even if the Trump administration asks that the mortgage-finance giants be freed, a key agency official said in an interview.
Bob Ryan, a top deputy to FHFA Director Mel Watt, said the former congressman fervently believes the fate of Fannie and Freddie must be determined by lawmakers rather than through administrative actions that are within the agency’s powers. Watt reiterated that view at a Senate hearing last week.