The Trump administration is growing wary of taking bold steps toward freeing Fannie Mae and Freddie Mac from federal control before the 2020 election in part because of the political risk of potentially upending the U.S. mortgage market, Bloomberg News reported. While White House and Treasury Department officials are eager to end the companies’ decade long conservatorships, they see the task as arduous, slow-moving and extremely complicated, said the people, who asked not to be named in discussing internal deliberations. Adding to the challenge is that Treasury Secretary Steven Mnuchin is spending much of his time on more pressing priorities, including the trade war with China, debt ceiling negotiations with Congress and imposing sanctions on Iran and other nations. One concern among administration officials is that freeing Fannie and Freddie could impact the housing market, possibly making it harder for borrowers to get loans just as President Donald Trump is seeking another term.
