When President Trump’s Treasury Secretary nominee Steven Mnuchin said in November that “getting Fannie and Freddie out of government ownership” is one of the Trump administration’s top 10 priorities, the government-sponsored enterprises’ stocks soared.
But at his confirmation hearing last week, Mnuchin walked his comments back, as HousingWire staffer Brena Swanson notes, saying, “My comments were never that there should be recap and release.” The explanation was enough to send shares of Fannie’s and Freddie’s stock tumbling from the surge in November.
“We need housing reform,” Mnuchin said. “We shouldn’t leave Fannie and Freddie alone for the next four or eight years without reform.”
While Mnuchin did not provide specifics for how the Trump administration will seek housing finance reform, Mnuchin said he plans to do it with involvement from both parties.