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Fannie-Freddie Overseer Urged to Seek Exit From Conservatorships

Bloomberg, By Clea Benson

The U.S. Treasury and the federal overseer for Fannie Mae and Freddie Mac(FMCC:US) should consider ending government control of the two companies if Congress fails to reform the housing-finance system, Senator Tim Johnson said.

“Everyone agrees that conservatorship cannot continue forever, so I hope my colleagues will keep working towards a more certain future for the housing market,” Johnson said today in remarks prepared for a Senate Banking Committee hearing with Federal Housing Finance Agency Director Melvin L. Watt. “If Congress cannot agree on a smooth, more certain path forward, I urge you, Director Watt, to engage the Treasury Department in talks to end the conservatorship.”

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