Fannie-Freddie May Be Freed With Treasury Backstop, Mnuchin Says
- Treasury secretary comments in letter to lawmakers on GSE plan
- He says step would be needed as part of housing finance reform
Steven Mnuchin
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Fannie Mae and Freddie Mac are expected to retain “limited and tailored government support” after they are freed from U.S. control, Treasury Secretary Steven Mnuchin said in to lawmakers seeking information on the Trump administration’s plans for the mortgage giants.
Responding to questions posed by Senate Democrats, including Mark Warner and presidential contender Elizabeth Warren, Mnuchin and Federal Housing Finance Agency Director Mark Calabria elaborated on their plans for ending the federal conservatorships that have been in place since the government-sponsored enterprises, or GSEs, were seized during the 2008 financial crisis.