HUD

OFHEO: GSE Reform Need is ‘Critical’ 

In remarks delivered today to the Senate Banking, Housing and Urban Affairs Committee, Office of Federal Housing Enterprice Oversight director James Lockhart said that the need for GSE reform was “critical” as Congress considers raising the conforming limit as part of a pending economic stimulus package. “Given the tremendous stresses on the mortgage markets, the American people cannot afford to have Fannie Mae, Freddie Mac, or the 12 FHLBanks incapable of serving their mission,” Lockhart said.