Obama Housing Plan Sets Up Fight Over Government's Role

Law360, New York (August 6, 2013, 7:32 PM EDT) -- President Barack Obama called Tuesday for a continued government backstop for the multitrillion-dollar housing market even as Fannie Mae and Freddie Mac are eliminated, setting up a fight with House Republicans over how best to expand the role of private capital in the still-recovering mortgage market.

Lawmakers have struggled with how to handle Fannie Mae and Freddie Mac since their exposure to toxic subprime mortgages brought them to the brink of failure in 2008. The debate has picked up heat in recent months with proposals in...
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