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Trump: Fannie, Freddie Conservatorship ‘Urgent Problem’

President Donald Trump said the conservatorship of Fannie Mae and Freddie Mac is a “pretty urgent problem.” Speaking to the National Association of Realtors in Washington, Trump said taxpayers remain on the hook in case of another crisis and his administration remains committed to reforming the housing-finance system.

Trump said his administration is working closely with Congress to develop a system that welcomes the private sector and competition, protects taxpayers, and preserves homeownership for future generations.

Trump’s remarks follow an appearance earlier in the week from new Federal Housing Finance Agency Director Mark Calabria, who said he is working with the Treasury and Housing and Urban Development departments to develop concrete plans for Fannie and Freddie by mid-summer.

ICBA has met with Calabria several times prior to his nomination and continues calling on policymakers to end the net-worth sweep of Fannie and Freddie earnings and recapitalize the enterprises.

Watch Trump’s Speech

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