National Housing Law Project: President directs Treasury and HUD to develop housing finance reform plans
The president issued a memorandum on March 27, which ordered "federal agencies to develop proposals for reforming various aspects of the housing finance system."
The Treasury, in particular, was directed to create a plan for removing Fannie Mae and Freddie Mac from conservatorship. In the memorandum, HUD was encouraged to make changes to the housing finance programs that are supported by the Federal Housing Administration (FAH) and Ginnie Mae.
Both the Treasury and HUD will submit their plans to the White House at their earliest convenience.
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