Fannie, Freddie Privatization, Cost-Cutting and New Name Are Priorities for HUD Chief
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Scott Turner, who was confirmed Wednesday to lead the Department of Housing and Urban Development, said a cross-government effort to privatize Fannie Mae and Freddie Mac will be a priority as he takes the helm of the agency. In an interview with The Wall Street Journal, Turner said HUD would work with the Treasury Department and Congress on privatization of the mortgage-finance firms and that he would act as a “quarterback” of sorts in the process. The efforts to free the firms from government control would also involve the Federal Housing Finance Agency, which oversees Fannie and Freddie.
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