Fannie and Freddie Return to Senate Spotlight as Crapo Seeks Fix
- Senator sets hearings this week on his plan to set them free
- Lawmakers’ history of failure clouds optimism on possible deal
Senator Mike Crapo.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
A Fannie Mae and Freddie Mac fix is on Washington’s agenda —- again.
Congress this week kicks off its latest attempt to forge a path forward for the mortgage giants, something that’s proved extremely elusive in the 11 years that the companies have been under U.S. control. Starting Tuesday, Senate Banking Committee Chairman Mike Crapo will hold two days of hearings on his plan for returning Fannie and Freddie to private ownership and giving the government an explicit role in backstopping the housing market.