Thursday, June 21, 2018 2:46:28 PM
MarketWatch
2:41 PM ET
The Trump administration on Thursday released a
proposal for the role of the government in housing finance,
setting out a list of principles that are broadly similar to
most consensus views on the topic, but which practically
stand little chance of being enacted. The two
government-sponsored mortgage enterprises, Fannie Mae (FNMA)
and Freddie Mac (FMCC) would be reorganized as private
entities, and would be able to issue mortgage bonds that
have an explicit guarantee from the federal government, but
which could only be used in catastrophic cases. Many housing
industry participants believe some form of government
guarantee is necessary to protect the 30-year fixed-rate
mortgage, and that the 30-year fixed-rate mortgage is, in
turn, necessary to maintain the housing market and
homeownership privileges Americans now enjoy.
-Andrea Riquier; 415-439-6400; AskNewswires@dowjones.com
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