Sept. 30 (UPI) -- In a move toward releasing Fannie Mae and Freddie Mac from government control, the Trump administration permitted the housing loan giants on Monday to hold onto more of their profits.
Announced by the U.S. Treasury and the Federal Housing Finance Agency, the modifications to the Preferred Stock Purchase Agreements will permit Fannie May to maintain capital reserves of $25 billion and Freddie Mac to keep $20 billion, substantially more than the $3 billion in profits they were previously allowed to retain.