Hope for Fannie Mae (FNMA) and Freddie Mac (FMCC) with Ben Carson’s Joining HUD

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Federal National Mortgage Assctn Fnni Me (OTCMKTS:FNMA) and Federal Home Loan Mortgage Corp (OTCMKTS:FMCC) is back in limelight again after Housing wire reported that Ben Carson will be the secretary for U.S. Department of Housing and Urban Development.

Earlier, on Tuesday President elect Donald Trump had tweeted that he was seriously considering Ben Carson for HUD.

Ben Carson will play a key role in defining the policies that will affect housing market in near future. Mr. Carson had stated that “We have much work to do in strengthening every aspect of our nation and ensuring that both our physical infrastructure and our spiritual infrastructure is solid.” on Facebook page.

Carson had provided some views during his run for Republic Nomination. Below are the key takeaways
1) Removal of home mortgage interest deductions

2) Removing inefficient federal programs or decreasing spending, Carson had spoken in favor of privatizing Fannie Mae (FNMA) and Freddie Mac (FMCC) in his six-page document. Carson extensively spoke about “A Balanced Budget for a Stronger America” which focuses on spending cuts worth $5.5 trillion over the next decade.

The savings will primarily come from repealing of Obamacare, elimination of corporate welfare, reduction of government’s interference in energy sector, and privatizing housing giants Fannie Mae (FNMA) and Freddie Mac (FMCC).

3) Fair housing rule of U.S. department of Housing and Urban Development

Subsidized housing and affordable housing has been in crisis. Carson’s appointment might bring in a new ray of hope for the homeless, low income and senior Americans.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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