Plan May Reduce Fannie and Freddie Role in Mortgages

CNBC reports the Obama administration may look to cut government support for the mortgage market to below 50 percent over time. Fannie Mae and Freddie Mac currently backstop more than 85 percent of the mortgage market.  Key housing officials were expected to meet at the White House late Tuesday to provide support for a long-awaited proposal to overhaul the housing finance system to be released Friday.
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