Real estate industry favors Mnuchin’s GSE privatization proposals

  • President-elect Donald Trump's pick for Treasury secretary, Steven Mnuchin, is best known as a former Goldman Sachs partner and manager of several hedge funds.
  • Mnuchin wants to privatize government-sponsored enterprises Freddie Mae and Fannie Mac and also “strip back parts of” the Dodd-Frank Act.
  • Bill Brown, president of the National Association of Realtors, agreed that it's time to "wind down" government control of the GSEs.
  • The chief economist of the Mortgage Bankers Association cautioned that, "We don’t want to move abruptly in any way that would destabilize the market."

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Should the federal government privatize government-sponsored enterprises Fannie Mae and Freddie Mac? Yes, according to President-elect Donald Trump and his top pick for secretary of the U.S. Treasury Department, Steven Mnuchin.