Senate Bill Aims To Spur Fannie, Freddie Reform

Law360, New York (March 14, 2013, 1:35 PM EDT) -- Four U.S. senators on Thursday introduced bipartisan legislation barring the U.S. from spending increased mortgage guarantee fees collected by Fannie Mae and Freddie Mac on unrelated programs, saying the steady cash flow leaves no incentive for the government to reform the housing giants.

The Jumpstart GSE Reform Act aims to provide both Congress and the Obama administration incentives to tackle the issue of what to do with Fannie Mae and Freddie Mac five years after they were placed under federal conservatorship after failed mortgage-backed securities brought...
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