Mortgage

Fannie, Freddie profits could sway overhaul decisions

Since Fannie Mae and Freddie Mac were taken on by the government, lawmakers have shown little progress in reforming the mortgage giants, according to an article in The Hill.    

Despite recent urges to reform the government-sponsored entities, the new surge in profit could cause Congress to lose interest in overhauling the agencies, the article stated.

“Better operating trends at both Fannie Mae and Freddie Mac, driven by continued healing in the housing market” will “likely further reduce pressure on Congress to overhaul the U.S. housing finance system,” Fitch Ratings said in a release.

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