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Republicans tell FHFA they oppose Freddie Mac’s closed-end second mortgage proposal

A group of Republicans in the U.S. Congress sent a letter to the Federal Housing Finance Agency (FHFA) that opposes a plan for the government-sponsored enterprise (GSE) Freddie Mac to purchase and guarantee single-family, closed-end second mortgages. 

The document sent on Friday states that, if implemented, the “misguided” and “hastily executed” proposal has the potential to “exacerbate inflation, disrupt the home equity lending and consumer credit markets, and increase risks to taxpayers.”

On Wednesday, the FHFA closed the comment period for the proposal, which was opened in April. In their letter, Republicans called the details ⇒

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