Obama to propose GSE measure in Feb-official

WASHINGTON, July 14 (Reuters) - The Obama administration will propose what to do with mortgage finance enterprises Fannie Mae and Freddie Mac, which the government took control of last year, at the time of its budget proposal in February, an administration official said on Tuesday.

"We will be proposing legislation to you with respect to the government-sponsored enterprises ... at the time of the president's budget submission which is in February of the coming year," Treasury Assistant Secretary Michael Barr told the Senate banking panel in response to questions. (Reporting by Mark Felsenthal; Editing by Theodore d'Afflisio)