So, during the financial crash of 2008, otherwise known as the Great Recession, the public bailed out Federally managed mortgage giants Fanny May and Freddy Mac to the tune of $190B. Now that they’ve paid the taxpayers back and are in the profit zones again, the Trump Admin is looking to take the two private and says they will move forward with or without congress to that end.
The plan is raising concerns that with strong profit motives serving only the financial interests of private entities, the needs of low income home buyers, previous government affordable housing mandates, and of course, maintaining the 30-year fixed loan will be left along the roadside.
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