White House Ready To Start Fannie, Freddie Wind-Down

Law360, New York (February 3, 2012, 5:22 PM EST) -- The Obama administration will lay the groundwork this spring to shut down government-sponsored mortgage companies Fannie Mae and Freddie Mac and lure private investors into the mortgage market, Treasury Secretary Timothy Geithner said at a financial advisory meeting Thursday.

Although reforms will be slow, the administration will follow the strategy it laid out last year to reduce government’s role in the housing market so it can focus on providing more support for first-time homebuyers and low-income Americans, according to the treasury secretary.

Geithner addressed housing reform...
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