The Treasury Department on Friday announced a set of steps to expedite the winding-down of government-controlled housing giants Fannie Mae and Freddie Mac including a measure that would require that their massive mortgage portfolios be wound down at an annual rate of 15% The agency previously required that the portfolios be wound down by 10%a year
The Treasury said that the change will allow Fannie and Freddie to have its investment portfolios cut back to $250 billion four years earlier than previously scheduled
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