WASHINGTON (CNNMoney) Treasury Secretary Steven Mnuchin said Thursday housing finance reform will be a top "priority" for the Trump administration.
"This has been an unresolved issue for far too long and one we are committed to fixing," said Mnuchin in prepared remarks Thursday ahead of his first appearance on Capitol Hill. "We will ensure that there is both ample credit for housing and that we do not put taxpayers at risk."
The Trump administration wants to jump start an overhaul of the housing mortgage giants, Fannie Mae and Freddie Mac, nearly a decade after they were seized by the government in 2008. Their endorsement has given a boost to Senate lawmakers, who want to advance a bipartisan plan to revamp the companies later this year.
While the White House hasn't advanced a proposal yet, Mnuchin has signaled he wants to privatize the firms. He has set a revamp as a priority for the second half of this year.
The Treasury secretary also focused on the Trump administration's goals of loosening regulations on Wall Street, moving ahead with a historic tax overhaul plan and revisiting trade deals, according to his testimony.
He said Treasury's first regulatory review will be focused on providing relief for community banks.
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