Mixed signals on Federal role, Fannie and Freddie Future uncertain
TheHill reports a push back from the Treasury Department on an earlier Washington Post report that alleged that President Obama favored a plan retaining a major federal role in the housing finance market. Deputy Treasury Secretary Neal Wolin stated “In each of the three options we outlined in our report to Congress, the government’s footprint in the housing finance market will shrink substantially.” Wolin added “That’s why, in each of the options, any government support for housing finance will be targeted and limited. This will help ensure that taxpayers are protected and the private sector bears the burden for losses.” Wolin acknowledged that Fannie Mae and Freddie Mac, will play a “critical role” in supporting the “still-fragile housing market.” Wolin claims the administration ultimately wants the government-sponsored enterprises (GSEs) wound down.
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