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Mark Warner, eight other senators want slow death for Fannie Mae, Freddie Mac

Staff Washington Business Journal

Sen. Mark Warner[1], D-Va. — along with eight of his colleagues on the Senate Banking Committee — has co-sponsored legislation that would wind down Fannie Mae[2] and Freddie Mac[3] within five years and replace them with a new system to guarantee home loans, the Charlotte Business Journal reported[4].

The senators introduced the bipartisan Housing Finance Reform and Taxpayer Protection Act on Tuesday.

“For too long, Congress has ignored our broken housing finance system,” Sen. Kay Hagan[5], D-N.C., said in a statement. “It is time we come together, Democrats and Republicans, to resolve this problem. This bipartisan bill provides an important road map for strengthening our housing finance system and protecting taxpayers while ensuring access to affordable, long-term mortgages for consumers.

References

  1. ^ Mark Warner (feeds.bizjournals.com)
  2. ^ Fannie Mae (www.bizjournals.com)
  3. ^ Freddie Mac (www.bizjournals.com)
  4. ^ Charlotte Business Journal reported (www.bizjournals.com)
  5. ^ Kay Hagan (feeds.bizjournals.com)
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