FHFA nominee sees 'virtual unanimity' in privatizing much of Fannie and Freddie's role

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The Obama administration’s nominee to head up Fannie Mae and Freddie Mac’s regulator, the Federal Housing Finance Agency, tells the Wall Street Journal that there’s “virtual unanimity”  that “we should move as much of (Fannie and Freddie’s role in mortgage markets) back into the private sector as quickly as can be done. But Rep. Mel Watt, D-N.C. — who is expected to face opposition from Republicans in the Senate, which must confirm his appointment — says it’s up to Congress, rather than the FHFA, to define what Fannie and Freddie’s role will be in the meantime.  Source: blogs.wsj.com.