The Trump administration releases a formal plan to overhaul the U.S. housing finance system and return Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) to private hands and out of government conservatorship, where they have been for the past 11 years.
The plan also would allow the firms, which back more than half of U.S. home mortgages, to keep more of their earnings.
The principles behind the plan represent a major reversal from promises long held by leaders of both political parties to abolish the companies, and would mark an important win for investors who have been betting politicians would not follow through on those promises.
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