In roughly 10 business days, Fannie Mae and Freddie Mac – which guarantee half of all mort-gage debt in the U.S. – will run out of capital unless their regulator at the Federal Housing Finance Agency does something about it.
Members of the House Financial Services Committee this week approved a bill that would sus-pend Fannie Mae and Freddie Mac contributions to the Housing Trust Fund if the government-sponsored enterprises don’t pay dividends to Treasury. The panel approved the bill on a partisan vote of 33 to 27.