WASHINGTON, D.C. – Today, Senator Rick Scott sent a letter to Treasury Secretary Steven Mnuchin thanking him for his efforts to reverse the Obama-era government takeover of the housing finance market, which put taxpayers on the hook for nearly half of all mortgages.

Read the full letter HERE or below.

October 1, 2019

The Honorable Steven Mnuchin
Secretary of the Treasury

1500 Pennsylvania Avenue NW

Washington, DC 20220

Dear Secretary Mnuchin:

I write to thank you for your work to reverse the Obama-era government takeover of the housing finance market. As we’ve seen time and time again, huge government-run programs rarely work and often excessively waste tax dollars. The best thing we can do for taxpayers is to protect their hard-earned dollars by getting government out of the way. Fannie Mae and Freddie Mac have been controlled by the government for too long, and I applaud the Administration’s efforts to remove them from government ownership on a permanent basis. It should be our ultimate goal to completely eliminate them.

Right now, U.S. taxpayers are on the hook for nearly half of all mortgages in our country. That’s not fair to taxpayers, and I’m glad the Treasury Department is working to promote more competition in the U.S. mortgage market by recapitalizing Fannie Mae and Freddie Mac. I support efforts to privatize the housing finance market, which will ultimately create the most competition and best results for families looking to purchase a home and live their version of the American dream.

I know you share my priority in keeping mortgages as affordable as possible for American families as part of any housing reform, and I look forward to working with you as these reforms move forward in Congress.

Sincerely,

Rick Scott

United States Senator

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