Mortgage Daily

Published On: March 23, 2010

Former Regulator Sees Ongoing Need for Fannie, Freddie

Armando Falcon among panelist interviewed in CNBC news video

The former regulator of Fannie Mae and Freddie Mac said that the two government-controlled enterprises are still needed in the mortgage market.

“We absolutely need them as an intermediary in our market right now,” Armando Falcon, the former director of the Office of Federal Housing Enterprise Oversight, said in an interview with CNBC today. “Lets accept that this will be a long transition until we move to a new model of how we structure our housing finance system going forward.”

He called for the infrastructure of the two secondary lenders to be put to use as public entities.

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