Mortgage Monotony

In a move sure to please nobody, the Trump administration proposes privatizing Fannie Mae and Freddie Mac, without making it harder or more costly to get a mortgage, by backstopping the companies with lines of credit in return for fees. This is going back to the future with the F&F duopoly intact! Worse, the plan, which lacks any meaningful details, is to move forward with or without Congressional approval. Nuts!