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Trump Sets Fannie, Freddie Path, But Biden Has Final Say

Friday, Jan 15 2021
Lending
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President Donald Trump’s Treasury Department has unveiled a plan that would effectively suspend Fannie Mae and Freddie Mac’s dividend payments to the U.S. government, setting them on track to leave government control. So reports Bloomberg.

-more-->The announced changes would let the mortgage finance giants keep billions of dollars in profits to build up a capital buffer.

President-elect Joe Biden’s administration has final say on the plan, which probably means Fannie and Freddie will stay in federal conservatorship for the time being, as they have been since the 2008 credit crunch.

Read the full article from Bloomberg.

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