Wall Street insider Craig Phillips leaves Treasury without Fannie, Freddie reform

Craig Phillips, Treasury Secretary Steven Mnuchin’s top housing advisor and the point person for reform of Fannie Mae and Freddie Mac, has left his position before achieving any major changes at the mortgage giants. “Mnuchin simply lacks the time and energy needed to advance a housing finance reform plan given the controversy that will surround any plan to recap and release Fannie and Freddie,” Jaret Seiberg, Managing Director at Cowen Group, said in a note to clients on Friday.

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