Some Fannie, Freddie functions may wind up in gov't hands: Frank

Barney Frank, the chairman of the House Financial services Committee, said Monday that while some functions of mortgage finance will remain with the banks, some will remain with a public entity, according to the New York Times

There is a commitment to restructure these companies, and we are going to want to retain a hand in the things that matter, like affordable housing and making sure that the housing economy doesn't become a threat to the entire economy again, said Frank, who serves on Massachusetts and chairman of the House Financial Services Committee. Some of what these companies did will be returned to the private sector, and some of it is going to remain with a public entity.