Waters Slams Trump Administration’s Harmful, Rushed Actions to Limit Activities of GSEs, Bail Out Hedge Funds
Trump Administration Action Limits Biden Administration’s Options for GSEs, Pushes Toward End to Conservatorship
Washington, DC, January 14, 2021
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement in response to changes that Treasury Secretary Steven Mnuchin and Federal Housing Finance Agency (FHFA) Director Mark Calabria made to Treasury’s ownership stake in the government sponsored enterprises, Fannie Mae and Freddie Mac.
“It is simply unacceptable that Treasury Secretary Steven Mnuchin and Federal Housing Finance Agency Director Mark Calabria are moving in the last days before President-Elect Biden takes the oath of office to make major changes to the housing finance system which will have repercussions across the country, and could lock families out of homeownership.
In December of 2020, Chairwoman Waters and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Mr. Steven Mnuchin, Secretary of the Treasury, urging him to listen to concerns from all stakeholders and halt any significant changes to our housing finance system during the current crisis. The letter also requested that Mr. Mnuchin brief the Chairwoman and Ranking Member on any actions that the Treasury Department might take in the next month that will affect the housing finance system and housing opportunities for families across the country.