PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

Former LandCastle Title CEO was Johnson's attorney and "trusted advisor"

Are record-low interest rates masking high-cost mortgage lending?

Five leading economists weigh in and the answer may surprise you

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time
W S

Frank Says Committee to Recommend 'Abolishing' Fannie, Freddie

/ Print / Reprints /
| Share More
/ Text Size+
House Financial Services Committee Chairman Barney Frank (D-Mass.) called for the abolition of the government-sponsored enterprises (GSEs) Fannie Mae (FNM) and Freddie Mac (FRE) during a committee hearing Friday. “As I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their present form and coming up with a new whole system of housing?finance,” Frank said, according to multiple media reports. Frank’s office did not immediately respond to HousingWire’s request for comment. The statement comes at a time when the future of the GSEs is regularly debated. The federal government has invested more than $100bn into the two companies since putting them into conservatorship in Sept. 2008. Some have called for the re-privatization of the companies, while others have argued nationalizing the GSEs would quicken the recovery of the nation's housing market. Frank isn't the first to call for the end of Fannie and Freddie. Analysts at Moody's Investors Service projected the federal government would wind down the GSEs last summer. The Mortgage Bankers Association (MBA) also called for a sweeping overhaul of the GSE secondary mortgage market and a new governmental role in the securitization of mortgage loans last summer. Write to Austin Kilgore.

Recent Articles by Austin Kilgore

Comments powered by Disqus