Treasury to hold conference on future of mortgage funding system next month

Treasury to hold conference on Fannie,Freddie

WASHINGTON — The Treasury Department, under fire for not developing a concrete plan for mortgage giants Fannie Mae and Freddie Mac, says it will hold a conference in next month to discuss their future.

The administration says it will hold a conference on the future of the mortgage funding system on Aug. 17 at the Treasury Department.

The financial overhaul didn’t address their future, despite protest from Republicans that it was incomplete without a plan for the two companies. The Obama administration has said it wants to wait until next year to determine their future.

So far stabilizing the pair of mortgage buyers has cost taxpayers $145 billion.