Freddie Mac (FMCC)

[CatBirdSeat]

Fannie Mae and Freddie Mac Would Be Privatized Under Proposed Budget!!!!

YES!

GOP members of the House of Representatives on Tuesday unveiled their 2018 budget. Dubbed "Building a Better America" and authored by Budget Chairman Diane Black (R-TN), the plan calls for more than $200 billion in cuts to mandatory spending programs and sets the path for tax reform. It also calls for the privatization of mortgage giants Fannie Mae and Freddie Mac and assumes provisions of the House bill that would repeal Dodd-Frank.

The budget calls for the Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corp. (FMCC) , better known as Fannie Mae and Freddie Mac, to be privatized. The federal government placed them in conservatorship to prevent them from going bankrupt in 2008.

"The Treasury has already provided $187 billion in bailouts to Fannie and Freddie, and taxpayers remain exposed to $5 trillion in Fannie Mae and Freddie Mac's outstanding commitments, as long as the entities remain in conservatorship," the plan reads. "Our budget recommends putting an end to corporate subsidies and taxpayer bailouts in housing finance."