by Greg Diodati
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by Greg Diodati
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02/11/2011 By: DSNews
The Treasury Department released the Obama administration’s plan Friday for reforming the nation’s housing finance system and winding down Fannie Mae and Freddie Mac.Officials say the reform measures will shrink the government’s footprint in the mortgage market, fix “fundamental flaws” in the system, increase transparency for investors, and improve underwriting and mortgage servicing standards.On a conference call with the media, Treasury Secretary Timothy Geithner stressed that “realistically, this is going to take five to seven years” for full reform to be implemented.
Administration Lays Out Plan for Winding Down Fannie and Freddie.
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