The Treasury Department issued a reform plan for Fannie Mae and Freddie Mac, incrementally removing them from their government financial lifeline, which was put in place during the 2008 financial crisis. Over half of all mortgages in the U.S. are guaranteed by these institutions.
Members of both political parties criticized the plan with conservatives stating it didn’t go far enough, while Sherrod Brown, the ranking Democrat on the Senate Banking Committee saying, “President Trump’s housing plan will make mortgages more expensive and harder to get”.