How Trump plans to get government out of the mortgage business

On Point | Podcast

WBUR

Talk Show, Daily News, News, Npr, On Point, Daily

4.2 • 3.5K Ratings

🗓️ 26 March 2025

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mortgage finance giants Fannie Mae and Freddie Mac have been under government conservatorship since 2008. President Trump wants to privatize them. But what could that mean for America's mortgage market?

Transcript

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0:00.0	This episode is brought to you by Vanta.
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0:44.6	WBUR Podcasts, Boston.
0:52.8	This is On Point.
0:55.3	I'm Megna Chakrabardi.
1:02.6	Around 2006 and 2007, there was a hidden toxin flowing through the American financial system.
1:08.4	It moved from house to house in the form of very, very risky mortgages.
1:12.5	Those high-risk loans were then bought by Fannie Mae and Freddie Mac,
1:19.8	huge mortgage finance firms. Then, in 2008, the housing market crashed. It threatened to wreck the entire global financial system. And it did wreck Fannie and Freddie. The two companies
1:26.1	lost a combined $109 billion.
1:30.1	The U.S. government, aka. U.S. taxpayer, then took over.
1:35.2	Here's then Treasury Secretary Hank Paulson at a congressional hearing on September 23, 2008.
	...

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