Mnuchin hopes for congressional support for U.S. housing reforms within six months


FILE PHOTO – U.S. Treasury Secretary Steven Mnuchin walks to a working breakfast at the G7 Summit in Biarritz, France, August 25, 2019. Erin Schaff/Pool via REUTERS

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Monday the Trump government would take administrative measures to overhaul mortgage giants Fannie Mae and Freddie Mac if it failed to secure congressional support for its plan within six months.

“We’re going to work with the Congress on the first part of this. I hope that if we’re going to get congressional support it will be in the next three to six months, and if we can’t do that we’ll move on the administrative front,” Mnuchin told Fox Business Network in an interview.

Reporting by Susan Heavey; Writing by Mohammad Zargham

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