The Trump administration's blueprint for reforming the U.S. housing system ...
WASHINGTON - The Trump administration’s blueprint for reforming the U.S. housing system is expected to be unveiled in the coming days, according to Washington analysts, marking a key step toward overhauling mortgage giants Fannie Mae and Freddie Mac.
In March, the Trump administration said it would devise a new plan to free the mortgage companies from U.S. government control, which Reuters reported in July would come by this month. He said the report and the hearing were, among other expected moves, “meaningful mile markers in the road to ending” Fannie and Freddie conservatorships.The Treasury holds warrants representing 80% of Fannie and Freddie’s common stock, as well as senior preferred stock. Under the current terms of the preferred stock agreement, Treasury is guaranteed a 10% dividend and sweeps the firms’ quarterly net profits into its coffers.
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