The Trump administration has unveiled its widely anticipated plan to end government control of Fannie Mae and Freddie Mac. So reports CNBC.
The Treasury Department’s 53-page plan, which would depend on legislative and administrative action, was “long on broad, general proposals, but shorter on specifics,” according to CNBC.
Fannie and Freddie, which together guarantee half of U.S. mortgages, have returned to profitability since their bailouts during the 2008 financial crisis. Shares of the two government-sponsored entities plunged in morning trading after the plan was announced.