U.S. private lenders not ready to replace Fannie, Freddie: regulator
- May 18, 2014
May 18, 2014, by Margaret Chadbourn
The regulator of government-controlled mortgage finance firms Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) said on Sunday he would not oppose them having a smaller presence in the market but private capital had to be ready to take over first.
Federal Housing Finance Agency Director Mel Watt said the two companies, which own or guarantee about 60 percent of all U.S. home loans, needed to remain in the housing finance market to make sure it was liquid and resilient.
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