Fannie Mae Rears Its Big, Ugly Bum

Federal Housing Finance Agency (FHFA) Director Bill Pulte is proposing a 50-year mortgage plan floated by President Donald Trump in an attempt to tackle housing affordability.

The move aims to make homeownership more accessible, particularly for first-time buyers and younger Americans facing high home prices and interest rates, by dramatically extending the standard mortgage term from 30 years to 50 years. It’s a positive sign that the Trump administration is focusing on addressing affordability. However, the plan has some serious flaws, and now-infamous mortgage buyer Fannie Mae is about to make the housing market feel like the Obama years again.