A large part of troubled mortgage refinance giants Fannie Mae and Freddie Mac should be wound down over time while the fees they charge for guaranteeing mortgages sold to investors are increased to slowly ease the private sector back into the housing market, the Treasury Department said in a long-awaited report on the future of the housing finance companies on Friday.
In addition to these more immediate moves, the Treasury Department also released three longt-term options for the reform of the two mega-firms that preserves the ability of the Obama administration to have a behind-the-scenes dialogue with Republicans on the hill over the future of the fragile housing finance system
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