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Expansion of Fannie, Freddie Should Come With Strong Regulator, Banking Groups Say
By Matt Squire
printBanking industry trade groups will support federal legislation that would give Fannie Mae and Freddie Mac a greater role in providing liquidity to the floundering mortgage market if the measure also establishes a unified regulator for the two government sponsored mortgage financing companies. Seeking to help alleviate the mortgage market crisis, Senator Charles Schumer introduced legislation on Monday that would expand portfolio limits for the housing government sponsored enterprises (GSEs) by 10 percent and allow them to buy loans as much as $625,500, a 50 percent increase, in certain high-cost areas. Schumer, a New York Democrat, said the measures would...
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