FHFA may not need Congress to free Fannie, Freddie - Bloomberg

|About: Freddie Mac (FMCC)|By:, SA News Editor

Fannie Mae (OTCQB:FNMAgains 3.3% and Freddie Mac (OTCQB:FMCCadvances 3.9% after Federal Housing Finance Agency Director Mark Calabria said the mortgage giants could be released from government control even if Congress doesn't pass a housing-finance overhaul, Bloomberg reports.

He indicated, though, that lawmakers would get "more than sufficient time" to come up with their own plan.

He signaled that the target date for freeing the two companies would be after the 2020 presidential election.

Fannie and Freddie have been under federal conservatorship since the financial crisis more than a decade ago.

Previously: Freddie Mac sees $1.7B sweep to Treasury (May 1)

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