Amid the gridlock and uncertainty gripping Washington, one big item left over from the Obama era has been quietly resolving itself the role that mortgage companies Fannie Mae and Freddie Mac will play in our economy.
Among the decisive steps Congress and the Bush Administration took while the markets and economy convulsed in 2008 was passage of legislation — the Housing and Economic Recovery Act (HERA), which led to the government sponsored enterprises (GSEs) being placed in a conservatorship under the authority of the HERA-created Federal Housing Finance Agency (FHFA). An infusion of…

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