U.S. Markets close in 3 hrs 23 mins

Trump says looking at alternatives to Fannie Mae, Freddie Mac

WASHINGTON, May 17 (Reuters) - U.S. President Donald Trump said on Friday his administration was looking at alternatives to the conservatorship of mortgage giants Fannie Mae and Freddie Mac.

"Fannie and Freddie can do a lot better than they're doing. ... And that's why I recently directed the Department of Treasury and HUD (Housing and Urban Development) ... to develop a framework for a modern housing finance system," he told a gathering of real estate agents in Washington.

(Reporting by Roberta Rampton; Writing by Doina Chiacu; Editing by David Alexander)