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White House seeks wind-down of Fannie, Freddie


    WASHINGTON (Reuters) - The Obama administration will propose a wind-down of government-controlled mortgage buyers Fannie Mae and Freddie Mac, according to documents obtained by Reuters.

    The White House proposed three long-term options to reduce the government's role in the housing market and took several shorter term steps aimed at raising the cost of government-backed mortgages.

    (Reporting by Kristin Roberts; editing by Jeffrey Benkoe)