May 1, 2017 / 5:13 PM / 2 years ago

U.S. GSE reform transition may take more than five years -FHFA official

NEW YORK, May 1 (Reuters) - A transition that involves an overhaul of U.S. mortgage agencies Fannie Mae and Freddie Mac might take more than five years, depending on the severity of proposed changes, an official at Federal Housing Finance Agency said on Monday.

If there were a “very radical” reform of the two government-sponsored enterprises, which the government took control of in 2008 during the global credit crisis, “we need more time” for the transition, said Robert Ryan, special advisor and acting deputy director at the FHFA, which regulates Fannie and Freddie, at a conference sponsored by the Mortgage Bankers Association. (Reporting by Richard Leong; Editing by Meredith Mazzilli)

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