Senate Slates GSE Hearing

The Senate Banking Committee has scheduled a GSE hearing for Feb. 10 to examine the role played by Fannie Mae, Freddie Mac, and the Federal Home Loan Banks in the housing markets.John Weicher, assistant secretary of the Department of Housing and Urban Development, will testify along with other housing experts with academic and government experience. Federal Reserve Board Chairman Alan Greenspan is scheduled to testify Feb. 16 before the Senate panel, and he is likely to field questions about the need for legislation to strengthen regulatory oversight of the three government-sponsored enterprises. For the past several years, the Fed chairman has been urging Congress to limit the growth of the GSEs' mortgage portfolios and debt issuance.