Fannie-Freddie May Be Freed Without Congress, Calabria Says
- FHFA chief says companies can survive without explicit backing
- Lawmakers will get ‘more than sufficient time’ to act, he says
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Fannie Mae and Freddie Mac’s new overseer said the mortgage giants can be freed from government control even if Congress doesn’t pass a housing-finance overhaul, while signaling that lawmakers will get “more than sufficient time” to come up with a plan of their own.
The comments by Federal Housing Finance Agency Director Mark Calabria in a Tuesday interview are a clear sign that regulators and President Donald Trump’s administration aren’t counting on a legislative solution after more than a decade of failures to address the biggest piece of unfinished business from the 2008 financial crisis.