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Former Fannie Mae CEO Critical of Its Current Role

Dan Mudd, former Fannie Mae CEO is critical in his opinion about the role being played by the government-backed mortgage companies in the housing market. The state is not considering the overall picture while carving out the role for Fannie and Freddie, he quoted in a leading business weekly.

Dan Mudd was the head of the mortgage giant until 2004, when the Federal Housing Finance Agency put Freddie Mac and Fannie Mae in conservatorship. Commenting on the current economic slowdown, he called for a national debate on what we need to change in the system in order to achieve a quick recovery. He also believes housing prices to go up again.

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