November 22, 2024 5:37 am
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Fannie Mae and Freddie Mac slapped again, but they’re not going away

FannieBy Kent Hoover | Phoenix Business Journal

A Senate committee approved legislation to replace Fannie Mae and Freddie Mac with a new secondary mortgage market financed by private capital, but with a government backstop. The Housing Finance Reform and Taxpayer Protection Act was approved by the Senate Banking Committee by a 13-9 vote — likely too small of a margin to convince Senate Majority Leader Harry Reid, D-Nev., to bring the bill to the Senate floor for a vote.

Continued: 

Related: Senate Panel Votes to End U.S. Giants in Mortgages 

 

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