Senators propose legislation to wind down Fannie and Freddie, overhaul housing finance

  • Article by: JIM ABRAMS , Associated Press
  • Updated: June 25, 2013 - 3:23 PM

WASHINGTON — A bipartisan group of senators on Tuesday proposed an overhaul to the housing finance system that would gradually eliminate Fannie Mae and Freddie Mac, the two government-sponsored mortgage guarantee giants, and shift more mortgage and credit risk to the private sector.

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