Obama likes Senate plan to wind down Fannie, Freddie

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Endorsing bipartisan efforts in the Senate to wind down Fannie Mae and Freddie Mac while still providing a government backstop for mortgage securitizations, President Obama said mortgage lenders should pay an assessment to the government on the value of mortgage-backed securities that would help provide assistance for borrowers and subsidize construction of affordable homes and rental properties, the New York Times reports.

House Republicans want the government to play a smaller role than the “backstop” for mortgage-backed securities proposed by Senate leaders and the president. Source: nytimes.com.