WASHINGTON (AP) — Lawmakers plan to study ways to get back some of the $145 billion the government has pumped into giant mortgage buyers Fannie Mae and Freddie Mac.
Rep. Paul Kanjorski, D-Pa., says hearings to be held in September will look at "innovative ideas for recovering the costs" resulting from the September 2008 federal takeover of the two companies.
Lawmakers also plan to examine ways to reform the entire system for providing mortgages to Americans.
The financial overhaul signed by President Barack Obama didn't address their future, despite protests from Republicans that it was incomplete without a such a plan.
Fannie and Freddie own or guarantee about half of all U.S. mortgages, or nearly 31 million home loans worth more than $5 trillion.
