WASHINGTON, DC-According to Barney Frank, Chairman of the HouseFinancial Services panel, Freddie Mac and Fannie Mae, two of thebiggest mortgage finance companies, should be removed from housingmarket reform. Frank's comments follow the meeting held by TreasurySecretary, Timothy Geithner in Washington that invited ideas forthe restructuring of the $10.7 trillion mortgage market fromhousing industry leaders.


Collectively, the Federal Housing Administration, Freddie Macand Fannie Mae finance 90% of all new US home mortgages.For the full story, go to The New York Times.

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