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Hensarling unveils plan to liquidate Freddie Mac, Fannie Mae
- Lance Murray
- Digital Content Producer- Dallas Business Journal
- Email | LinkedIn | Twitter | Google+
A plan to liquidate mortgage giants Fannie Mae and Freddie Mac has been unveiled by U.S. Rep. Jeb Hensarling, R-Dallas, who said it would give more people the opportunity to buy homes.
The Dallas Morning News reported that Hensarling, chairman of the House Financial Services committee, wants to end federal guarantees on home loans, even in crisis. Hensarling said the virtual privatization would make the mortgage industry healthier and cut risk, the Morning News reported.
Democrats said the plan would threaten the housing market recovery and would make home ownership harder to get and would make it more costly, the Morning News reported.
They also said it would make it difficult for homebuyers to obtain a 30-year fixed-rate mortgage, the Morning News said.
Lance Murray edits and writes for the DBJ's website and can be reached at 214-706-7106
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