Senate Democrats led by Sen. Elizabeth Warren (Mass.), the ranking member of the Banking Committee, are calling on the Trump administration to halt the re-privatization of Fannie Mae and Freddie Mac, which finance 70 percent of the nation’s mortgage market and entered federal conservatorship after the 2008 financial crisis.

“We have serious concerns that you plan to make significant changes to the enterprises in a way that would put investor profits over the homes of millions of Americans. Should President Trump make good on his plans, he may take us back to the status quo before the 2008 foreclosure crisis,” Warren and other Democratic senators wrote in a letter to William Pulte, the director of the Federal Housing Financing Administration (FHFA).

Senate Democratic Leader Chuck Schumer

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