Fannie Mae and Freddie Mac Get the Cold Shoulder From Lawmakers

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Fannie Mae and Freddie Mac are losing federal support in favor of affordable rentalsAfter decades of serving as the backbone of the U.S. housing market, Fannie Mae and Freddie Mac are buckling under the weight of the protracted housing slump. As a result, the two government-controlled mortgage lenders are losing political support in Washington at a time when they require even more economic stimulus. After receiving $160 billion from the federal government, Fannie and Freddie no longer have much-needed backing among Democratic or Republican lawmakers. The latest political angle on housing? Funnel more aid to affordable rentals.

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