Fannie Mae's and Freddie Mac's safety-and-soundness regulator has issued a statement reassuring nervous financial markets that the big mortgage agencies are still viable. Following an extraordinary sell-off of the agencies' stocks after a former Federal Reserve Board official said they were insolvent, Office of Federal Housing Enterprises Oversight director James Lockhart said the two "are adequately capitalized." OFHEO "continues to monitor closely Fannie Mae, Freddie Mac, and the mortgage and financial markets," he said.
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