FHFA Director to Congress: End Fannie, Freddie Conservatorship

By Austin Weinstein

Fannie Mae and Freddie Mac’s chief regulator is calling on Congress to pass housing-finance reform legislation that sets a path to return the companies to private hands.

Lawmakers should pursue measures that reduce taxpayer risk, promote competition and support sustainable home-ownership, Federal Housing Finance Agency Director Mark Calabria wrote in a letter accompanying his first annual report to Congress.

“Reform remains overdue, despite prior efforts, and we should view this task with some urgency,” Calabria wrote in the letter dated June 11. “I encourage Congress to pursue legislation to move our country toward a more sustainable housing finance system.”

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