Shrinking U.S. Support of Housing 1

Proposal was outline Friday that the Obama administration would plan to address the mortgage markets which could possibly include phasing out Fannie Mae and Freddie Mac.

“Officials portrayed a housing-finance system that would include a role for both the public and private sectors, but would be different from the current system in that the government’s role would be smaller, underwriting standards would be tighter, and borrowers would be required to hold larger amounts of equity in their homes.” –WSJ

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