Fannie-Freddie Revamp Risks Destabilizing Economy, Democrat Says

The Senate Banking Committee’s top Democrat is warning the Trump administration that carrying out its plan for ending U.S. control of Fannie Mae and Freddie Mac could destabilize the economy if it fails to protect the housing market.

Senator Sherrod Brown of Ohio in a Thursday statement pointed to multiple hearings the committee has held this year, during which both Democrats and housing experts cautioned that freeing the mortgage giants from government conservatorship without major reform would be risky.