Obama outlines vision for overhaul of housing policy

President Barack Obama said preservation of the 30-year, fixed-rate mortgage is essential as the U.S. moves to reduce the government's involvement in housing finance. Speaking in Phoenix, he said government-sponsored mortgage-finance companies Fannie Mae and Freddie Mac should be phased out and replaced with a system that leaves most of the financial risk with private-sector lenders.

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Washington Post (tiered subscription model), The · Housing Wire

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