Fannie Mae-No Politics (FNMA)

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"immediate recapitalization"

Steven Mnuchin calls for recapitalisation of Fannie and Freddie
Financial Times
Kiran Stacey in Washington
Financial TimesSeptember 6, 2019

The US Treasury secretary has called for the immediate recapitalisation of Fannie Mae and Freddie Mac, the two institutions which guarantee most US mortgages, in what the Trump administration pitched as a first step to free them from public control. Thursday’s push by Steven Mnuchin comes more than a decade after the two groups were bailed out at the height of the financial crisis, nationalising the giant government-sponsored companies whose role is to expand US home ownership. Mr Mnuchin said his plan would not imperil the 30-year fixed-rate mortgage, the wide availability of which has been made possible by the government guarantees offered by Fannie and Freddie.