By Clare Trapasso | realtor.com
The new Republican administration doesn’t take control until late January, but key officials are already making moves to shake up the housing market—starting with privatizing Fannie Mae and Freddie Mac.
Steven Mnuchin, whom President-elect Donald Trump picked to be the new secretary of the U.S. Department of the Treasury, told Fox Business that the Federal National Mortgage Association (aka Fannie Mae) and Federal Home Loan Mortgage Corp. (aka Freddie Mac)—the two enormous, government-sponsored enterprises that play key roles in America’s home mortgage market—will be restructured and privatized.
