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Fannie-Freddie Soar on FHFA Chief's Conservatorship Comment

  • Acting director says Treasury, White House are working on plan
  • Otting’s comments to staff reiterate administration’s stance
Joseph Otting
Joseph OttingPhotographer: Andrew Harrer/Bloomberg
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Fannie Mae and Freddie Mac shares soared Friday amid fresh reports that the Trump Administration is working on proposal that would recommend freeing the mortgage-finance giants from government control.

Joseph Otting, acting director of the Federal Housing Finance Agency, commented on the administration’s plans at an internal gathering to introduce himself to staff and establish open lines of communication, an FHFA spokesperson said in a statement. MarketWatch reported on the meeting earlier Friday.