Volume 2014 - Number 24
June 20, 2014
Treasury Official: It Would Take 20 Years to Recapitalize Fannie, Freddie; White House Committed to Wind Down
A senior Treasury Department official pushed back against the idea of rehabilitating the two government-sponsored enterprises, noting in a speech late last week that the firms cannot be re-capitalized and reiterating the Obama administration’s commitment to wind down Fannie Mae and Freddie Mac. Mary Miller, the Treasury’s undersecretary for domestic finance, said that even if the two GSEs were allowed to stay in business and build up capital, it could take “at least” 20 years to recapitalize Fannie and Freddie. “During these 20 years, the taxpayer would remain...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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