Administration outlines plan for housing finance
The Obama administration said it wants to reform housing finance by winding down Fannie Mae and Freddie Mac. In a Feb. 11 report to Congress, the administration proposes increasing guarantee fees, phasing in a 10-percent down payment requirement, and reducing conforming loan limits. The administration would like to see private markets take a greater role in housing finance. It also calls for the Federal Housing Administration to lower conforming loan limits and increase the cost of its mortgage insurance. The American Bankers Association said it was pleased with . . .
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