Republican’s Plan for Fannie and Freddie

HousingWire reports while Rep. Paul Ryan, (R-WI), Gov. Mitt Romney’s running mate for the White House has proposed privatizing “the business of government-owned housing giants, Fannie Mae and Freddie Mac, so they no longer expose taxpayers to trillions of dollars’ worth of risk,” and an end to the $188 billion in bail-outs, major lender and realtor organizations propose private capital in a first loss position but not without some form of government guarantee. Tom Cronin of the Collingwood Group said private capital would be slow to return to the marketplace until risk retention, qualified mortgage and new servicing standards are in place. He does not see that happening anytime soon. MHProNews has learned while Romney has not said what he may have in store for Fannie and Freddie if he wins the presidency, on Sunday’s “60 Minutes” he did say his platform will have its own budget plan he and Mr. Ryan will follow.

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