WASHINGTON • President Barack Obama is proposing to overhaul the nation’s mortgage finance system, including shutting down government-backed Fannie Mae and Freddie Mac — a plan with bipartisan support on Capitol Hill.
Obama will also insist that popular 30-year mortgages be widely available to borrowers, even in a system that would rely more on the private sector than the government to guarantee loans.
The president was to outline his proposals Tuesday at a construction company in Phoenix, once ...
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