Fannie Mae and Freddie Mac plunge on Mnuchin comments

Treasury pick under fire for foreclosure practices

Treasury pick under fire for foreclosure practices

Steven Mnuchin, Donald Trump’s Treasury secretary pick, said in his Senate confirmation hearing Thursday that he does not support the so-called “recap and release” of mortgage buying giants Fannie Mae and Freddie Mac.

With those comments, Mnuchin appeared to be dialing back from what he first said about Fannie Mae and Freddie Mac after Trump nominated him in November.

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