8 Bills to Chip Away at Fannie, Freddie
House Republicans plan to introduce eight bills on Tuesday in what some are calling a “bite-sized approach” to phasing out government-sponsored enterprises Fannie Mae and Freddie Mac, the Associated Press reports.
Fannie and Freddie, along with other federal agencies, have backed about 9 in 10 new mortgages over the past year. The federal takeover of the GSEs in 2008 following the housing market collapse has cost taxpayers $150 billion, which has prompted many in Congress and even the White House to call for the GSEs to be phased out gradually over a five-year timeline.
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Posted on Tue, March 29, 2011