U.S. Treasury Secretary Steven Mnuchin said on Monday the Trump administration 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. The Treasury is negotiating with the Federal Housing Finance Agency, which oversees the mortgage giants, which were bailed out during the 2008 financial crisis. It hopes for a “near term” agreement allowing the two companies to retain their earnings, Mnuchin said in an interview with Fox Business Network.
