The Trump administration proposed sweeping changes to the U.S. housing finance system on Thursday, including a plan to release from government control the two companies behind about half of the country’s mortgages.would scale back the federal government’s dominant role in housing — a move that could rattle the $11 trillion mortgage market heading into an election year, even as concerns rise about a looming recession.
“While Treasury prefers legislation, further reform should not and need not wait on Congress,” a senior Treasury official told reporters Thursday. “President Trump’s housing plan will make mortgages more expensive and harder to get," Brown, the top-ranking Democrat on the Senate Banking Committee, said in a statement. "I’m urging the President: Make it easier for working people to buy or rent their homes, not harder."
FHFA is expected to release a rule on Fannie and Freddie’s capital requirements this fall, a condition of their release. The blueprint would also limit Fannie and Freddie’s activities to reduce their share of the market, though it does not specify a target market share. The companies would be able to hold fewer mortgages on their books, for instance.
2008 all over again?
Who in the White House is promoting this?
The question is who will reap the rewards from this change? Or rather, how will 45 cash in on it?
I'm sure whatever he does, it will benefit billionaires and screw home owners.
Who’s going to pay for the WALL?MEXICO.... Who’s going to pay for the WALL? MEXICO.... Who’s going to pay for the WALL? MEXICO....Who’s Really Paying For WALL ? MILITARY!!!
Before people get outraged: “Ending government control of Fannie and Freddie — a goal of lawmakers from *BOTH* parties almost since they were taken over — is at the center of the proposal. The two companies do not make home loans; rather, they buy mortgages from lenders and...”
WTF!
If he's going down, he's going to make sure that every system vital to this country goes with him. That is the epitomy of Screwed. Up. Revenge. All for the sake of the most fragile ego in history.
Trump must need a mortgage 🤡👹🔥
Because of course.
Capitalists are homicidal criminals. It's time to overthrow these parasites by any and all means necessary.