Federal Housing Finance Agency Director Mark Calabria said he hopes to have a roadmap for ending the federal conservatorship of Fannie Mae and Freddie Mac by the end of the year, Roll Call reported. Calabria said yesterday that it was his job as FHFA director to develop a plan for recapitalizing and releasing the government-sponsored entities, or GSEs. The two mortgage giants have been under federal control since they accepted bailouts in 2008 in the wake of the housing market collapse. Responding to critics who say that ending the GSEs’ conservatorship requires congressional action, Calabria said that the statute creating FHFA was clear. “Congress did decide,” he said. “My responsibility is to try to set a path out of [conservatorship] where we are faithful to the law, where we carry it out as intended.”
