House Eyes Replacements For Fannie, Freddie

Law360, New York (April 19, 2010, 2:41 PM EDT) -- The U.S. House of Representatives will examine how to replace beleaguered housing finance government-sponsored entities Fannie Mae and Freddie Mac, in order to prepare the housing markets for their eventual unwinding and abolishment, according to Rep. Barney Frank, D-Mass.

Following several recent hearings on the future of U.S. housing finance, Frank, who chairs the House Financial Services Committee, said Thursday that industry and policy stakeholders agreed that Fannie and Freddie should go, but not before carefully constructed replacements can be put into place to help ease...
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