Congressman Gary Peters says Fannie Mae and Freddie Mac must go. But he says they have to be replaced with something else.
The two quasi-private groups provide a federal guarantee for home mortgages.
Taxpayers had to bail out Fannie and Freddie after the housing sector meltdown.
Some people in Congress don’t want to replace Fannie and Freddie with anything, and just let the free market take over.
But Peters says without a federal guarantee, banks would stop offering 30-year mortgages.