Prospects for GSE Reform Seem to Brighten on Capitol Hill; OFHEO to Ratchet up Pressure on Fannie Executives
September 14, 2006
Prospects for compromise on legislation to overhaul the regulation of housing-related government-sponsored enterprises took a sudden favorable turn this week, as a leading GSE hawk in the Senate blinked on a key issue. Sen. Richard Shelby, R-AL, chairman of the Senate Banking, Housing and Urban Affairs Committee, this week unexpectedly indicated he is willing to move the long-stalled GSE reform bill forward without strict limits on retained portfolios at Fannie Mae and Freddie Mac...