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New legislation will break apart and sell Fannie Mae and Freddie Mac

Housing Wire

July 10, 2014, By Jacob Gaffney

 

Representatives John Delaney (D-MD), John Carney (D-DE), and Jim Himes (D-CT) today introduced housing finance reform legislation that would wind down Fannie Mae and Freddie Mac.

“The legislation preserves the 30-year fixed rate mortgage and protects American taxpayers by using private sector pricing to reduce the risk of future bailouts,” said the representatives in a statement.

“It shifts the housing finance market away from Fannie Mae and Freddie Mac, and keeps home ownership attainable for working families by strengthening affordable housing programs,” they said.

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