GAO Calls Fannie, Freddie Reform Proposals Shortsighted

Law360 (January 18, 2019, 11:27 PM EST) -- Federal plans to release Fannie Mae and Freddie Mac from conservatorship have been too shortsighted about the implications of restructuring housing finance, the Government Accountability Office said in a report released Friday.

The government’s chief auditor warned that many of the biggest proposals for reform from Congress, regulators and the financial industry have not outlined a goal for the federal government's role in the housing market or considered the ripple effect of reform on agencies like the Federal Housing Administration.

“Seven of [the] proposals we reviewed — including proposed legislation — do not consider if and how they would affect other...

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