Federal Housing Finance chief says Fannie, Freddie should increase credit for homeowners

Statement comes as FHFA, others working on new securitized mortgage rules

By Peter Fabris, Contributor | May 22, 2014

Melvin Watt, head of the Federal Housing Finance Agency, says that Fannie Mae and Freddie Mac should increase the amount of credit available to homeowners. This statement is contrary to previous directives, and it comes as the FHFA and other agencies are working on rules governing securitized mortgages. The announcement also prompts a number of questions including whether the two housing finance entities should turn over their portfolios to the private sector.

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