Trump administration’s plan for Fannie Mae, Freddie Mac “survived” Senate hearing

Treasury Secretary Steven Mnuchin told a Senate committee on Tuesday he wants to reach an agreement quickly with the regulator of Fannie Mae and Freddie Mac to allow the companies to keep their profits to rebuild capital – a first step in privatizing the nation’s largest sources of mortgage financing. Cowen Washington Research Group said that key part of the “recap and release” plan could happen by Sept. 30.