The road to reforming Fannie Mae and Freddie Mac took another left turn this week with Treasury Secretary Steve Mnuchin applauding Congressional efforts on the initiative but then declaring, if need be, Treasury would go it alone.
The Trump administration pulled an about-face on reform of the government-sponsored enterprises, with the White House declaring mid-week that it will work with Congress on a legislative solution to Fannie Mae and Freddie Mac.
The Federal Housing Finance Agency, which regulates Freddie Mac and Fannie Mae, last week said it will no longer defend its single-director leadership structure.
The Treasury Department continues to work on administrative changes for Fannie Mae and Freddie Mac that can be implemented by the Federal Housing Finance Agency, but a blueprint won’t see the light of day until sometime in the spring, if then.
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