Housing Wire-
President Donald Trump is officially calling for an end to the conservatorship of Fannie Mae and Freddie Mac, according to a White House release issued Wednesday.
Trump is
expected to sign a memorandum later today issuing “overdue reform of the housing finance system,” the White House said, which includes the end of conservatorship and the improvement of the regulatory oversight of both entities.
The statement said that Fannie and Freddie have grown in size and reach, yet face no competition from the private sector, and that the Department of Housing and Urban Development programs are exposed to too much risk while relying on outdated processes.
