Obama to urge greater private capital role in mortgage markets

President Barack Obama, taking his message on the economy to Phoenix, will call for a greater role for private capital in the nation's mortgage markets, ultimately replacing Fannie Mae and Freddie Mac, officials said.

Those two entities got a massive federal government bailout when the housing market collapsed in 2008.

Obama has been giving speeches to lay out his vision for the U.S. economy, the top issue on voters' minds. It's not clear how much of his proposals will get through the divided Congress.

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