Mnuchin Says GSE Reform Won't Happen in 2018

Last fall, Treasury Secretary Steven Mnuchin said GSE reform would be addressed in 2018. But, as HousingWire staffer Kelsey Ramirez reports, that’s no longer the plan.

Mnuchin appeared on Fox Business earlier this week and said that reforming Fannie Mae and Freddie Mac most likely won’t happen this year.

“It is something that I’m very focused on,” he said in the interview. “I think it’s unlikely that this gets done in this Congress, but it is something we’re focused on.”

Also, Mnuchin added, since Federal Housing Finance Agency Director Mel Watt’s term is up in January, the administration will likely replace him with someone who will push a GSE reform agenda.

“What gets done here would need to be on a bipartisan basis,” Mnuchin said. “We’ve had conversations with both Democrats and Republicans, and unfortunately I just don’t think this is going to be a focus in this Congress. But we’ll come back to this next year and this will be a big focus of mine post the elections.”