Equities

Reuters reveals U.S. regulator sees five-year timeline for Fannie, Freddie overhaul; market reacts

Reuters reveals U.S. regulator sees five-year timeline for Fannie, Freddie overhaul; market reacts

Reuters reported on Wednesday that the Trump administration’s hotly anticipated blueprint for overhauling mortgage guarantors Fannie Mae and Freddie Mac had slipped to September as the U.S. Treasury juggles several other pressing issues, based on an interview with the housing regulator. The exclusive comments from Federal Housing Finance Agency Director Mark Calabria also sketched a five-year timeline for removing the pair from government conservatorship, dashing market expectations that Fannie and Freddie would be overhauled before the 2020 election and sending their shares down more than 3% in early trade on Thursday.