With a sea change about to take place in Washington, the elimination of government backing for 30-year mortgages has become a possibility.

President-elect Donald J. Trump’s choice to lead the Treasury Department, Steven Mnuchin, has said he wants Fannie Mae and Freddie Mac to be privatized.

But the pair of government-sponsored housing enterprises, with the support of the U.S. government, have made 30-year loans possible with their backing.

Source: Mortgage Daily