GSE Regulators to Testify

Regulators of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks will testify at a congressional hearing on July 13.The hearing is designed to review the effectiveness of the Office of Federal Housing Enterprise Oversight and the Federal Housing Finance Board in supervising the three government-sponsored enterprises. OFHEO Director Armando Falcon and Finance Board Chairman Alicia Castaneda are expected to testify. The House Financial Services subcommittee on capital markets and GSEs and the subcommittee on oversight and investigations will conduct the afternoon hearing. Rep. Richard Baker, R-La., chairs the GSE subcommittee and Rep. Sue Kelly, R-N.Y., chairs the investigations subcommittee.