Lawmakers need to take action and decide how Fannie Mae and Freddie Mac are to be wound down, says Edward DeMarco, acting director of the Federal Housing Finance Agency. "While FHFA is doing what it can to encourage private capital back into the marketplace, so long as there are two government-supported firms occupying this space, full private sector competition will be difficult, if not impossible, to achieve," DeMarco told the House Financial Services Committee.

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